ATHLONE, Ireland, - Innocoll AG (Nasdaq:INNL) (the "Company"), a global, commercial-stage, specialty pharmaceutical company that develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, today announced the closing of its public offering of 6,500,000 American Depositary Shares ("ADSs"), each representing 1/13.25 ordinary shares, at a public offering price of $9.00 per ADS. As part of the public offering, Sofinnova Venture Partners VIII, L.P., or Sofinnova, purchased an aggregate of 1,666,667 ADSs at the public offering price. Sofinnova will have a right to nominate one member to the Company's supervisory board. All of the ADSs were offered by the Company. The Company's ADSs are listed on The NASDAQ Global Market under the symbol "INNL." In addition, the Company has granted the underwriters an option until August 23, 2014 to purchase up to an additional 975,000 ADSs at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.
The Company received total net proceeds from the public offering of approximately $51.5 million after deducting underwriting discounts and commissions and offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for the following purposes: (i) developing XaraColl, Cogenzia and CollaGUARD, (ii) expanding its manufacturing infrastructure, and (iii) general corporate purposes.
Piper Jaffray & Co. and Stifel acted as joint book-running managers for the public offering. JMP Securities acted as lead manager for the public offering. The offering of these securities was made only by means of a prospectus, copies of which can be obtained from: Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at prospectus@pjc.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at (415) 364-2720 or by email at syndicateops@stifel.com.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on July 24, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Innocoll AG
Innocoll is a global, commercial-stage, specialty pharmaceutical company. The Company develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies. The Company's late stage product pipeline is focused on addressing a number of large unmet medical needs, including: XaraColl® for the treatment of post-operative pain; Cogenzia® for the adjuvant treatment of diabetic foot infections; and CollaGUARD®, a barrier for the prevention of post-surgical adhesions. The Company's approved products include: CollaGUARD(Ex-US), Collatamp® G, Septocoll®, RegenePro®, Collieva®, CollaCare®, Collexa®, and Zorpreva™, which are sold through strategic partnerships with various partners including Takeda, Biomet, and Jazz Pharmaceuticals. All of the Company's products are made using Type 1 collagen and are manufactured in-house at its facility in Saal, Germany. CollaRx®, Collatamp®, CollaGUARD®, Collieva®, CollaCare®, Collexa®, Cogenzia® LidoColl®, LiquiColl®, Septocoll®, and XaraColl® are registered trademarks, and CollaPress™, DermaSil™, Durieva™, and Zorpreva™ are trademarks of the Company.
Denise Carter
Executive Vice President Business Development
and Corporate Affairs
T: (215) 765-0149
Lisa Wilson
In-Site Communications, Inc.
Investor Relations
T: (212) 452-2793