Theraclion Announces the Success of Its Capital Increase
22 Juni 2023 - 7:11PM
Business Wire
- Conclusion of a major partnership with long-standing
shareholder Furui.
- Financial resources strengthened, ensuring the company's
financial visibility over the next 2 years.
- Theraclion is focusing on the execution of its three strategic
axes.
Regulatory News:
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THERACLION (ISIN: FR0010120402; Mnemo: ALTHE), an innovative
company developing a scalable robotic platform for non-invasive
ultrasound therapy, announces today the final signature of the
strategic agreement with its long-standing partner Furui, and the
completion of an issue of new shares, for a total gross amount of
8.4 million euros, with 1.3 additional million euros in warrants
attached in the event of exercise.
This agreement and the financing provided enable Theraclion's
new CEO, Martin Deterre, to give a new impulse to the execution of
his 3-pronged strategy:
- Obtain FDA market approval for SONOVEIN® in the U.S. by 2025,
via the launch of a pivotal multicenter study in the coming
months.
- Rapid access of the SONOVEIN® to the high-potential Chinese
market and development of industrial capacity in China, in close
partnership with Furui.
- The pursuit of technological innovations in artificial
intelligence and robotics, in order to increase the speed and
simplification of treatments, guaranteeing greater profitability
for each machine.
Martin Deterre, Chief Executive Officer of Theraclion, comments:
"Since obtaining market authorization in 2019, treatment times have
been drastically reduced and nearly 2,000 treatments carried out
with a success rate now close to established methods. The
completion of this capital increase, the conclusion of the
partnership with Furui and optimized expense management give
Theraclion the means to accelerate the implementation of its
value-creating strategy."
Strategic agreement with Furui finalized
Under the strategic agreement, the final details of which were
finalized this week, Furui is investing 7 million euros, including
6 million euros in the capital increase and 1 million euros through
the exercise of milestone warrants, via its subsidiary Furui Paris.
With its expertise in supporting innovative medical companies,
Furui should facilitate Theraclion's international development in
its 3 strategic areas. Theraclion and Furui will work together to
establish production capacity in China for Echopulse® and
SONOVEIN®. Theraclion will grant Theraclion China, of which Furui
is a co-shareholder, the license to use its technologies and
trademarks in China, in return for a payment of 3 million euros
linked to the achievement of specific targets.
Terms and conditions of the capital increase
The Company issued 14,478,269 ABSAs, new shares with warrants
attached, each with a par value of 0.577 euros, which were
subscribed in an issue carried out in accordance with the 9th and
10th resolutions of the Ordinary and Extraordinary Shareholders'
Meeting of June 30, 2022.
The terms of the initial offer as well as the characteristics of
the warrants are set out in the press release published on May 25,
2023.
In line with its subscription commitment under the strategic
partnership agreement with the Company, Furui has subscribed to
10,398,614 ABSA through its French subsidiary Furui Paris,
representing a subscription of 6 million euros.
Following this operation, the breakdown of the Company's capital
and voting rights is as follows:
Shareholder
Number of shares
Holding %
Voting rights %
Furui
12 517 183
28,3%
29,6%
Concert Bernard Sabrier
8 654 289
19,6%
18,6%
Management
3 512 996
7,9%
7,6%
Opus Chartered
2 982 157
6,7%
6,4%
Other funds
14 341 044
32,4%
33,0%
Retail
2 256 291
5,1%
4,9%
Total
44 263 960
100,0%
100,0%
The new shares will be assimilated to existing ordinary shares.
They will be listed on the Euronext Growth Paris market on the same
quotation line (ISIN code: FR0010120402). Settlement and delivery
are scheduled for June 26, 2023.
Overall, the capital increase, the full exercise of the warrants
and the payment of the license fees represent a total financing of
12.7 million euros, of which 8.4 million euros have been acquired
to date.
Governance
The Company's Annual General Meeting to be held on June 29,
2023, will decide on the appointment of two new directors to
represent Furui.
About Theraclion
Theraclion is a French MedTech company committed to developing a
non-invasive alternative to surgery through the innovative use of
focused ultrasound.
High Intensity Focused Ultrasound (HIFU) does not require
incisions nor an operating room, leaves no scars, and allows
patients an immediate return to their daily activities.
Echotherapy, as the HIFU treatment method is called, concentrates
therapeutic ultrasounds to an internal focal point from outside of
the body.
Theraclion has developed two CE-marked robotic platforms
delivering echotherapy: SONOVEIN® for varicose veins and ECHOPULSE®
for breast fibroadenoma and thyroid nodules. Each representing the
potential to replace millions of surgical procedures every
year.
Based in Malakoff (Paris), Theraclion’s team of 30 people is
mostly made up of engineers and researchers. Designing and
manufacturing the products, they also support a limited number of
reference centers, where treatment protocols are defined, paving
the way for the clinical trial required to obtain US market
access.
For more information, please visit
www.theraclion.com or www.echotherapy.com
and follow the account on LinkedIn.
Theraclion is listed on Euronext Growth Paris Eligible for the
PEA-PME scheme Mnemonic: ALTHE - ISIN code: FR0010120402 LEI:
9695007X7HA7A1GCYD29
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version on businesswire.com: https://www.businesswire.com/news/home/20230622715652/en/
Theraclion contact Martin Deterre Directeur Général
martin.deterre@theraclion.com
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