Erytech Pharma SA plans to offer up to $100 million in American depositary shares in its U.S. IPO.
The French clinical-stage biopharmaceutical company applied to list the ADSs, each of which represents the right to an ordinary share, on the Nasdaq Global Market under the symbol ERYP.
Additionally, Erytech Pharma is planning a concurrent European private placement of ordinary shares which is expected to close alongside the U.S. offering.
The company said it plans to use net proceeds from the global offering, together with existing resources, to fund the clinical development of eryaspase through preclinical and clinical development and the overall development of its Erycaps platform technology, and for working capital and general corporate purposes.
Jefferies LLC is acting as global coordinator and joint book runner for both offerings. Cowen and Co. LLC is acting as joint book runner for the U.S. offering, with JMP Securities LLC as lead manager. Oddo BHF SCA is acting as joint book runner for the European placement.