Pentixapharm is planning its IPO for October 2024, the first of a biotech company in Germany for eight years.

The company aims to raise up to 23,4 million euros by raising up to 3,9 million new shares at a price of 4,70 to 6,00 Euro will be offered.

The subscription period began on September 24, with the stock market debut on 3. October.

Pentixapharm develops radiopharmaceuticals for diagnosis and therapy of a variety of diseases, especially cancer cancers and inflammatory diseases.

If the placement is completed, a market capitalization of 132,7 million euros is targeted.

In addition, a convertible bond of up to EUR 18.5 million is expected from the parent company Eckert & Ziegler $EUZ (-1.55%) which does not wish to continue financing the clinical development of Pentixapharm.