It will be another listed company in the biotech pharmaceutical sector that sees very few listed players in Italy, among which Recordati stands out, the group whose majority was taken over by the CVC fund and which still has Andrea Recordati as shareholder and CEO. Today, in fact, the profile and the value of Philogen’s IPO has been drawn which set the price between 15 and 18 euros, specifying that the indicative valuation interval of the capital, before the increase, is between 548.3 million and 657.9 million , equal to a minimum price of 15 per share and a maximum price of 18 euros. Which means a capitalization, post capital increase, of between 609.2 and 731 million.
The biotech Philogen, an Italian-Swiss company headed by the Sienese Neri family, with its headquarters in Bellaria, and Philochem in Zurich, specialized in biopharmaceuticals for the treatment of cancer and arthritis, have announced that they are aiming to be listed on the MTA segment. of Borsa Italiana, with an offer in capital increase equal to 10% of the group. The intention would be to launch the IPO in the first quarter. Philogen’s IPO, in the premarketing phase, the first of 2021 on the main market of Borsa Italiana. In 2020 there was only one listing, that of Gvs, the Bolognese company among the world’s leading producers of advanced filtration solutions for the medical sector and more. With the June IPO, he had raised € 570 million. Philogen was founded in 1996 by the Neri brothers, Duccio CEO with Dario scientific director and Giovanni internal director and licensing. Together they control 46% of it through the Nerbio holding. 36% of Sergio Domp, through the personal safe Domp Holdings, also leader of the pharmaceutical group Domp.
In 2019, the company announced a $ 62 million capital increase to grow pipeline products in clinical development stages and to expand the company’s manufacturing facilities for large-scale production of antibody products. The Equity Club, the club deal promoted by Mediobanca to which many great Made in Italy entrepreneurs joined the capital, with an 18% stake.
Philogen’s offer, with Mediobanca and Goldman Sachs in the role of global coordinators of the offer, reserved for qualified and institutional investors. It should be the right time for Philogen to go public after the attempts in 2008 and then in 2011. In both cases, she had withdrawn due to the adversity of the markets triggered by the financial crisis.