Amsterdam, The Netherlands, 15 June 2022 -- Forbion, a leading European life sciences venture capital firm, announces that its Forbion Growth Opportunities Fund II has entered into a subscription and share purchase agreement with VectivBio Holding AG (“VectivBio”). VectivBio is a Nasdaq listed (Nasdaq: VECT) clinical-stage biopharmaceutical company pioneering novel transformational treatments for severe rare conditions.
Forbion recently announced a €470 million (USD 500 million) first close of its Forbion Growth Opportunities Fund II, which is focused on investing in late-clinical stage European life sciences companies. Forbion has agreed to purchase 3,478,260 ordinary shares at a price of $5.75 per ordinary share, for gross proceeds of approximately $20 million, in a private placement.
Additionally, VectivBio announced the pricing of a follow-on public offering for aggregate gross proceeds of approximately $30 million, before deducting underwriting discounts and commissions and offering expenses. VectivBio intends to use the net proceeds from the public offering and the concurrent private placement, together with its existing cash and cash equivalents, available for sale and short-term deposits: to fund (i) clinical development and pre-commercialization activities for its lead product candidate and (ii) general corporate purposes, including general and administrative expenses and working capital.