Pharnext S.A. (ENXTPA:ALPHA) announced that it has entered into a strategic agreement for a private placement for gross proceeds of €20,000,000 on May 9, 2017. The transaction will include participation from Tasly Pharmaceutical Group Co., Ltd. (SHSE:600535). The company will issue 400,000 common shares at a price of €12.5 per share for proceeds of €5,000,000, and convertible bonds with the conversion price of €13 per share for proceeds of €15,000,000.

Pursuant to the transaction, the investor will acquire 12.6% stake in the company.