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Financing › Details

Theraclion–SEVERAL: investment, 201607–201608 capital increase €9.7m w 1.6m new shares at €5.98/share led by Furui Medical Sciences


Period Period 2016-07-26 ï¿½ 2016-08-05
Organisations Money taker Theraclion S.A.
  Money source SEVERAL
Products Product medical device
  Product 2 venture capital

Theraclion S.A.. (8/18/16). "Press Release: Strong Interest of Investors in Theraclion – Capital increase Completed @ 100%. Total Amount Raised of €9,7M [Not for UK] 1,7 new shares issued at €5.98 per share". Malakoff.

THERACLION (FR0010120402 – ALTHE, PEA PME eligible), a company specialising in leading-edge medical equipment for echotherapy, announced the success of its capital increase with preferential subscription rights, which took place between 26 July and 5 August 2016. This operation raised a final gross total amount of €9,629,337 through the issue of 1,610,257 new shares at €5.98 per share.

The capital increase seeks to enable the Company to strengthen its financial position, finance its current expenditures (lack of working capital requirement of €3.2 million) and obtain additional resources to finance its operations, and in particular:

> Continue developing a sustainable and profitable business in its current markets. The Company will build on its current expansion in Germany and the significant growth in thyroid treatment volumes by rolling out its business in other countries covered by the CE Mark, particularly Italy, France and the UK, along with South Korea.

> Conduct clinical trials to access new markets.

o These include the U.S., the world's largest market, where half-million surgical procedures are performed each year for current indications and where the Company intends to file for FDA approval of a pivotal trial in 2016; and

o in China (2 million surgical procedures per year for current indications), where discussions are underway with a Chinese partner.

> Initiate clinical trials to potentially extend indications to cover breast and thyroid cancers.

These three key objectives for the Company's development will require relatively limited investment and their scale can easily be adjusted according to the circumstances.

“The success of this capital increase has given us increased financial resources to accelerate the growth of our company both in our current market and through the access of new markets such as China, the world’s biggest market in terms of numbers of surgery procedures, and the USA. In addition to our current indications in benign breast and thyroid tumours, we expect in the very near future to initiate clinical trials to expand our scope of action to breast and thyroid cancers,” commented David Caumartin, CEO of Theraclion. “I would like in particular to thank the Chinese group Furui Medical Sciences, a specialist in the Chinese healthcare sector, which subscribed 51.6% of the issue and also to thank our long-standing shareholders, including Truffle Capital, Natixis Asset Management, Aviva and Occasio Alpha, as well as the individual investors who have put their trust in us and who took part in this capital increase. The high level of subscription on an irreducible basis by our shareholders of 84% reflects our shareholders’ trust. I would like to emphasise that Theraclion’s management and employees also reinvested in the growth of their company, thus demonstrating their motivation and commitment to the development of echotherapy as a non-invasive alternative to surgery.”

Result of subscription and allocation of shares

The capital increase amounted to approximately €9.6 million, i.e. a subscription rate of 100%, broken down as follows:

> 1,353,166 new shares were subscribed on an irreducible basis, representing 84.03% of the new shares issued;

> 225,940 new shares were subscribed on a reducible basis, representing 14.03% of the new shares issued;

> 31,151 new shares were subscribed on an unrestricted basis, representing 1.93% of the new shares issued.

Following the capital increase, Theraclion’s issued capital will consist of 6,441,029 shares and will amount to €322,051.45.

Settlement-delivery is expected to take place on 22 August 2016, and the new shares will begin trading on Alternext Paris on 23 August 2016. The new shares will be immediately assimilated with existing shares. They will be listed on the same line as existing shares on Alternext Paris (ISIN: FR0010120402).

The capital increase was conducted by Portzamparc as Lead Manager. Lexelians law firm dealt with the legal aspects of the transaction.

About Theraclion

Theraclion is a French company specializing in high-tech medical equipment using therapeutic ultrasound. Drawing on leading-edge technologies, Theraclion has designed and manufactured an innovative solution for echotherapy, the Echopulse®, allowing non-invasive tumor treatment through ultrasound-guided high-intensity focused ultrasound. Theraclion is ISO 13485 certified and has received the CE mark for non-invasive ablation of breast fibroadenomas and thyroid nodules. Based in Malakoff, near Paris, France Theraclion has brought together a team of 34 people, 50% of whom are dedicated to R&D and clinical trials.

For more information, please visit Theraclion’s website:

A prospectus approved by the AMF on July 22nd 2016 under visa no. 16-341, includes the Registration Document registered on 8 July 2016 under no. R.16-065 and the Transaction Memorandum (including a summary), is available free of charge from Theraclion, and on the websites of Theraclion ( and the AMF (

For a description of the risks and uncertainties that could affect the results, financial position, performance and achievements of Theraclion, and of the risks relating to the transaction, please see the "Risk Factors" sections of the Registration Document registered with the AMF and the Transaction Memorandum approved by the AMF, which are available on the websites of Theraclion ( and the AMF (


This press release and the information contained herein do not constitute either an offer to sell or purchase or the solicitation of an offer to sell or purchase the Company's new shares or preferential subscription rights, in any country whatsoever. In France, these new shares or preferential subscription rights may not be offered absent a prospectus approved by the AMF.

The diffusion of this press release in some jurisdictions may constitute a violation of applicable laws and regulations. People physically present in these jurisdictions in which this press release is distributed shall get informed about such restrictions and comply with them.

With respect to each Member State of the European Economic Area other than France (the “Member State”) which has implemented the directive 2003/71/EC, as amended, in particular by Directive 2010/73/EU and to the extent implemented in the Member State, (the “Prospectus Directive”), no action has been undertaken or will be undertaken to make an offer to the public of new shares or preferential subscription rights requiring a publication of a prospectus in any Member State.

As a result, new shares or preferential subscription rights may only be offered in Member States pursuant to an exemption under the Prospectus Directive. Securities mentioned in this press release may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Theraclion does not intend to register any portion of the planned offer in the United States of America or to conduct a public offering of securities in the United States of America.

This press release does not contain or constitute an invitation, inducement or solicitation to invest in the United Kingdom. This press release is directed only at and is for distribution only to persons who (i) are outside the United Kingdom, (ii) are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order or (iv) are other persons to whom an invitation or inducement to engage in investment activity (within the meaning of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons in (i), (ii), (iii) and (iv) together being referred to as “Relevant Persons”). Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

Theraclion is listed on Alternext Paris PEA-PME eligible

Mnemonic: ALTHE - ISIN Code: FR0010120402



David Caumartin
Chief Executive Officer
Tel.: +33 (0)1 55 48 90 70


Press Relations
Estelle Reine-Adélaïde / Florence Calba Tel.: + 33 (0)1 44 90 82 54


Financial Communication and Relations Emmanuel Huynh / Valentine Brouchot Tel.: +33 (0)1 44 71 94 94

Record changed: 2019-06-09


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