TopoTarget floats

TopoTarget, a VC-backed Danish cancer research company, has completed its IPO on the Copenhagen Stock Exchange, six times oversubscribed. The offer price was fixed at DKK 22.5, mid-way between the DKK20.5 and DK25.5 price range. The IPO raised around E30m.

The flotation will provide an exit for various investors, which have committed to the company’s five rounds of investment from 2000 to 2005. Those investors included Odlander, Fredrikson & Co through various funds such as HealthCap 1999 GbR mbH, HealthCap 1999 KB, HealthCap Annex Fund I-II KB, HealthCap KB, HealthCap Coinvest KB, OFCO Club Annex Fund I-II and OFCO Club; BankInvest through K/S Biomedical Venture Annex III and Deutsche Venture Capital’s Deutsche Venture Capital GmbH Fund III.

Dr Peter Buhl Jensen, the CEO of TopoTarget said: “We are very proud of the strong interest displayed by private as well as institutional investors in connection with our IPO. The IPO provides us with a solid foundation from which to expand our current position, with the ultimate goal of bringing anti-cancer drugs to the market.”