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TheraNexus to raise €18M via IPO to fund R&D, expansion

TheraNexus said it intends to raise €18 million via an initial public offering on the Euronext Exchange to further develop its clinical pipeline and invest in its biotechnology research and development.

Founded in Lyon in 2013 by two former researchers at France's alternative energies and atomic energy commission, TheraNexus specializes in neurological disorders including Parkinson's disease, Alzheimer's and neuropathic pain.

The shares have been priced at an indicative range of €14 euro to €18.80. TheraNexus said existing shareholders and new investors have subscribed to shares worth up to €10.9 million thus far.

After a six-month absence in healthcare IPOs on the Euronext Exchange, TheraNexus is the second company in the healthcare sector this week to announce listing plans.