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AMT - Successful Initial Public Offering (IPO) on Euronext Amsterdam
Amsterdam Molecular Therapeutics (AMT) is a gene therapy
company that has, to date, circumvented many if not all of the obstacles that have
prevented gene therapy from becoming a mainstay of clinical medicine. The company
uses adeno-associated viral (AAV) vectors to deliver therapeutic genes, and has
designed and validated one of the first stable and scalable AAV production platforms.
AMT's platform holds promise for thousands of rare (orphan) diseases that are caused
by one faulty gene, and the company recently acquired a licence from Amgen to the
glial cell line-derived neurotrophic factor (GDNF) gene to treat Parkinson's. AMT
currently has a product pipeline of seven products at different stages of development.
Objectives
- The primary objective was to assist AMT with its positioning and messaging – not only to raise awareness and the profile of the Company, but also to clarify the stories around 'gene therapy' and 'orphan diseases'
- To maximise coverage explaining AMT's science and commercial potential in media that targeted the investment community that could participate in a Euronext listing
- To support the AMT internal communications team with media relations and provide counsel where necessary
- To liaise between the banks, the Company and the media to ensure the correct messages were communicated in the media
Approach
- In preparation for the IPO, a "long lead" media campaign began in 2006 to introduce relevant journalists to the technology and its potential
- Articles covering AMT's approach to gene therapy were placed in the scientific press, while the business press were directed towards the commercial potential of the technology and orphan diseases
- Owing to the legal constraints surrounding a Euronext listing, exclusives stopped once the IPO process had begun
- During the IPO process, Northbank provided round the clock support and pro-active media outreach to the wires and financial press on the days of significant news announcements
- Northbank liaised with the two banks executing the IPO, and AMT's internal Director of Communications to coordinate all parties on timings and activities
- The London-based newspapers were briefed on AMT's technology
- A solid base of Dutch journalists was generated to track the progress of the IPO locally
- Critical to the success of the campaign was flexibility and responsiveness, to ensure all possible media opportunities were captured
Results
- News from AMT was covered in both the scientific and business/financial press in the run up to the IPO. Coverage then ramped up through the IPO process
- Coverage of the intention to IPO and pricing appeared on a global scale in many of the world''s key business outlets, such as AFX, Associated Press, Bloomberg, Dow Jones Venture Wire, Forbes, and Businesswire
- European National press coverage included Beurs, Het Financieel Dagblad, BNR, FinanzNachrichten, L'Agefi, RTLZ, Trouw, Veb, De Financieel Telegraaf, Eurobench, FEM Business online, NRC Handesblad, Quotenet.nl, BNR Nieuwsradio, ANP, BN DeStem, Netherlands Corporate News, Nieuwsbank, Borse Berlin, Beleggers Belangen and Boursier.com
- Financial trades covering the IPO included Selftrade and Alternative Assets
- Biotech trade press to pick it up included; Scrip, BioCentury, BioWorld Today, In Vivo, Tornado Insider, PharmaLive, Pharma Company Insight, Pharmaceutical Executive, Drug Researcher.com, Pharma Marketletter, R&D Focus Drug News, Biotech INFO, Gene Therapy Weekly, GEN and ScienceBusiness
- Total raised: €55.7 million at a market capitalisation of approximately €139 million
June 2007
To discuss our capability in this area
please contact:
Sue Charles, Managing Partner or Adam Michael, Account Director
+44 (0)20 7457 2020
sue.charles[at]collegehill.com or Adam.Michael[at]collegehill.com
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