Sosei Heptares raises $200m to drive growth initiatives
Sosei Group Corporation, which has major research facilities in Cambridge, has raised $200 million global growth capital through an international offering.
The majority of funds will be used to pursue strategic expansion including a potentially transformative acquisition to secure long-term revenue growth. The business will also make significant investments in novel technologies that complement and future-proof its drug discovery platform.
It intends to expand its drug candidate discovery and early development into new target classes and will also be in-licensing late-stage clinical assets to develop for the Japanese market.
Any balance of funds will be used to support organic growth initiatives, such as investments in current research activities and general corporate purposes.
Shinichi Tamura, President and CEO of Sosei Heptares, said: “I am pleased that we have successfully completed this international offering led by our finance team and I would like to thank all of the investors who subscribed for their support.
“The $200m we have raised will allow us to pursue our growth strategy, which includes potential transformative acquisitions, more aggressively.
“We have an excellent track record of making transformational acquisitions: the purchases of both Heptares Therapeutics and Arakis have played a key role in shaping our current business and delivering significant value to our shareholders.
“With this enhanced level of financial resources, I am looking to the future with great confidence and look forward to updating you as we execute our growth strategy.”
Chris Cargill, EVP and CFO of Sosei Heptares, added: “This international offering to new and existing shareholders was highly successful, given the uncertain global economic outlook, and has secured the long-term growth capital we require to execute our corporate ambition.
“This significantly improved level of financial flexibility enhances our strategic options. We can now look at exciting ways to accelerate Sosei Heptares’ long-term revenue growth, including a potentially transformative acquisition, as well as investments that enhance our own world-leading capabilities to generate novel drug candidates targeting serious diseases.”