Sensorion announces the completion of a €15 million gross placement reserved for specific categories of investors, through the issue of 24,574,694 new shares, at a unit price of €0.63.

Settlement and delivery of this private placement, to existing shareholders including Redmile Group, Invus, Sofinnova Partners and a major investment management company, is expected to take place around April 11, subject to customary conditions.

The biotech company, which specializes in hearing therapies, intends to use the net proceeds of the placement, amounting to around €14.8 million, to finance its R&D activities until the end of 2025.

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