VEXIM (Paris:ALVXM)(FR0011072602 – ALVXM), a medical device company specializing in the minimally-invasive treatment of vertebral fractures, has today decided to postpone the private placement announced on June 3rd, as the expected conditions for its execution were not met. VEXIM was considering this private placement as a means to finance the acceleration of its clinical and commercial development.
Vincent Gardès, CEO of VEXIM, states: “In view of the excellent operational and commercial performances recorded in 2012 (with sales doubling), reaffirmed by the buoyant growth in our activity over the 1stquarter of 2013 (+113%), as well as our international growth prospects thanks to the talks currently taking place with potential partners, the Board of Directors has decided to protect the VEXIM’s stock rather than undertake an operation deemed too dilutive. We will pursue our winning growth momentum by building on the outstanding success of the SpineJack® implant, over 5,000 of which have been implanted so far in Europe by spine surgeons. Our long-term objective to become the European leader in innovative back microsurgery remains unaffected.”
The Company will examine any opportunities to finance its growth in order to create value for its shareholders, whether with new investors or thanks to the steadfast support of its historic shareholder, Truffle Capital.Philippe Pouletty, CEO of Truffle Capital, VEXIM’s main shareholder, concludes: “Given the company’s operational and commercial solidity and its international growth prospects, we are considering providing VEXIM with, if necessary, financing solutions in the form of convertible bonds or any other form that would create value for all shareholders.”
About Vexim, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), Vexim is a medical device company created in February 2006. The Company has specialized in the creation and marketing of mini-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of its longstanding shareholders, Truffle Capital1 and Banexi Venture, and from OSEO public subsidies, Vexim has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The Company currently has 45 staff. It has its own sales teams in France, Germany, Italy, Spain, Switzerland and the United Kingdom, as well as distributors notably in Turkey, Argentina, India and in the following countries where the product is currently being registered: Mexico, Brazil, Taiwan, Colombia, Venezuela, Chile, Ecuador and Peru. Vexim has been listed on NYSE Alternext Paris since May 3rd 2012.
VEXIM : postpones its private placement
(Visited 1 times, 1 visits today)