PE-backed surgical implants maker Innocoll debuts IPO

Innocoll AG has launched its IPO after pricing its 6.5 million shares at $9 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “INNL.” Piper Jaffray and Stifel were the lead underwriters. Based in Ireland, Innocoll is a pharmaceutical firm that develops surgical implants. Its backers include Cam Investment, Morgan Stanley, NewSmith Opportunities Private Equity Fund and ACL Investments.

PRESS RELEASE

ATHLONE, Ireland, Jul 25, 2014 (GLOBE NEWSWIRE via COMTEX) —
Innocoll AG (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 pricing 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. The Company’s ADSs are expected to begin trading on July 25, 2014 on the NASDAQ Global Market under the ticker symbol “INNL.” The offering is expected to close on July 30, 2014, subject to the satisfaction of customary closing conditions. The Company has granted the underwriters a 30-day option 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 expects to receive total estimated net proceeds from this offering of approximately $51.5 million after deducting estimated underwriting discounts and commissions and estimated 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 are acting as joint book-running managers for the offering. JMP Securities is acting as lead manager for the offering. The offering of these securities is being 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, MN 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, CA 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® in Phase 3 development for the treatment of post-operative pain; Cogenzia® in Phase 3 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.

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