Pharmamel announces an imminent Pre-IPO capital increase campaign on the CNMV-regulated platform Capital Cell.
Granada, March 19, 2024.- Pharmamel, the Spin-off and biotechnological Start-Up from the University of Granada is at a key moment of growth and development, both on the corporate and scientific fronts, as the company has started the process to go public on the BME Scaleup, signing a strategic agreement with the registered advisor Armabex, a subsidiary of the Armanext group, and entering the pre-market environment of Bolsa y Mercados Españoles (BME), where Pharmamel is expected to go public in the fourth quarter of 2024. On the scientific front, the company faces the significant challenge of completing a Phase III clinical trial in Europe and the USA, since the renowned biotechnological firm from Granada possesses a valuable technology: a novel intravenous melatonin drug capable of counteracting and treating Sepsis (the leading cause of hospital death worldwide). After demonstrating the effectiveness, efficacy, and safety of the new drug in two Phase II clinical trials. Following the clinical results obtained, Pharmamel has the perfect drug candidate. Therefore, it must initiate a Phase III clinical trial and finally obtain authorization from the EMA and FDA. The conduct of this trial represents a significant turning point in value for Pharmamel, as the acquisition of positive results in this trial (Phase IIIA), which would add to the excellent results obtained in Phase 2 studies, will likely grant Pharmamel and its shareholders an increase in the valuation of the listed company, and the potential pre-license of the new intravenous melatonin injectable. To fully fund the Phase III clinical trial in Europe and the USA in accordance with EMA and FDA regulations and to bring the drug to market, Pharmamel is opening a new Pre-IPO capital increase round on Capital Cell, a platform regulated by the CNMV, at a pre-money valuation of €37,000,000 before going public on the BME Scaleup, with an expected and estimated initial offering price of €45,000,000. This round will likely be supplemented by CDTI, NextGenerationEU, ENISA, and other aids for which the company has already applied and requested, pending resolution, as well as the participation of private and specialized investors, as well as public-private investment funds, with whom the company has already signed pre-investment agreements/LOIs, over a period of 6 to 12 months. According to company sources, the capital increase campaign will be launched next April 2024, with interested parties already able to reserve tickets and investment commitments.