The company is planning to register 3 million shares with a proposed maximum aggregate price of $32.02 per share. The offering can potentially raise up to $96.06 million. The underwriters for this offering will be Citigroup, Bryan Garnier & Co., Trout Capital and Leerink partners.
DBV Technologies is a clinical-stage specialty biopharmaceutical company focused on the field of immunotherapy, specifically its development of Viaskin. The therapeutic approach is based on epicutaneous immunotherapy, or EPIT, the proprietary method of delivering biologically active compounds to the immune system through intact skin using Viaskin. This is being developed to treat patients, including infants and children, suffering from severe food allergies, for whom safety is paramount, since the introduction of the offending allergen into their bloodstream can cause severe or life-threatening allergic reactions, such an anaphylactic shock.
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The lead product candidate, Viaskin Peanut, has obtained Fast Track designation from the U.S. FDA. In September 2014, topline results were announced for VIPES (Viaskin Peanut’s Efficacy and Safety), Phase 2b clinical trial of Viaskin Peanut in peanut allergic patients. Pending consultation with the FDA, the Phase 3 clinical trial is expected to take place in the first quarter of 2016.
DBV Technologies has further used its Viaskin technology platform to advance other innovative product development programs to address additional opportunities in immunology. It is also exploring earlier stage opportunities in respiratory syncytial virus vaccine, refractory hemophilia A, Crohn’s disease and type I diabetes.
The company plans to use the proceeds from this offering to advance the development of its Viaskin line, as well as fund its earlier stage development activities. The remainder will be used for building out the clinical and commercial infrastructure in the U.S. and supporting global growth.
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