Cellectis will introduce Exchange its subsidiary editing of the genome of the plants

The French biotech Cellectis announced Monday, July 10, the launch of the ipo on the Nasdaq to about $ 100 million of its subsidiary Calyxt, dedicated to the publication of the genome of the plants. Calyxt was until now a subsidiary 100% owned by Cellectis, who “has the intention to remain majority shareholder”, according to a press release.

Cellectis is already listed on Nasdaq, as well as on the Alternext market of Euronext for small and medium values.

More than 6 million shares

More than 6 million common shares of Calyxt will be issued and offered to investors, for a price of between 15 and 18 dollars. Based on the mid-point of the indicative range, the gross proceeds of the transaction should thus be raised to $ 100 million.

In the case of high demand, an over-allotment option of approximately 909.000 additional shares of common stock is provided for, said the release.

If the engineering of genomes is the common base of Cellectis and Calyxt, their respective fields of activity are distant : the mother house, specializes in the development of new drugs in immuno-oncology, while the subsidiary, formerly known as “Cellectis Plant Sciences, is working on the development of agricultural and food products.

Calyxt hopes to launch in 2018 its first product, the CAL1501, intended to create a soybean fort in oleic acid and no trans-fatty acid. In total, eight products are in development.

(With AFP)

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