

TME Pharma N.V. (Euronext Growth Paris: ALTME) has recently completed a successful capital increase, raising €2.35 million gross through a private placement with professional investors and a public offering to retail investors in France1. This capital increase was conducted at a 10% discount to the closing share price on June 17, 2024, and is intended to support the company's strategic milestones, including a collaboration with a pharma partner on drug supply of the anti-VEGF antibody, monetization of the NOX-E36 asset, and additional transactions to secure financing for the upcoming Phase 2 NOX-A12 brain cancer trial1.
- Recent Fundraising Success: The capital increase announced on June 17, 2024, for a total amount of €2.35 million gross was carried out through the issuance of 13,088,158 new ordinary shares at a price of €0.1798 per new share, representing 46% of the company's share capital prior to the transaction and a 10% discount to the closing share price prior to the capital increase announcement1.
- Strategic Focus: The funds raised will allow TME Pharma to focus on achieving the next financial and strategic milestones, including a collaboration with a pharma partner on drug supply of the anti-VEGF antibody which is to be combined with NOX-A12 in the Phase 2 clinical trial, monetization of the NOX-E36 asset (e.g., via a spinout), and additional transactions sufficient to secure financing of the upcoming Phase 2 NOX-A12 brain cancer trial via a combination of non-dilutive grant funding, a strategic alliance, and/or investment from expert institutional investors1.
- Company Transformation: The successful capital increase and the elimination of dilutive convertible debt indicate a significant transformation of the company's profile in the remainder of 2024, as stated by the CEO, Aram Mangasarian1.
In conclusion, TME Pharma N.V. is in a strong position strategically, with a successful capital increase under its belt and a clear plan for the use of the funds raised. This positions the company well for future growth and the pursuit of its ambitious research and development goals.
