International offering raises $200 million for Sosei
The Japan-based Sosei Group (TYO: 4565) today announced the successful completion of an international offering of new shares and euro-yen denominated convertible bonds due 2025 that has raised a total of approximately $200 million.
The company intends to use the majority of the net proceeds to pursue strategic growth initiatives including:
- a potentially transformative acquisition to secure long-term revenue growth;
- investments in novel technologies that complement and future-proof its drug discovery platform;
- expansion of its drug candidate discovery and early development into new target classes; and
- in-licensing late-stage clinical assets to develop for the Japanese market.
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