CROSSJECT Secures €5.7 Million in Capital Increase

CROSSJECT has successfully completed a capital increase, raising €5.7 million after fully exercising its extension clause. The transaction saw total demand surpass €9.2 million, marking an oversubscription rate of 1.84x. This increase was supported by Gemmes Venture and new investor Vatel Capital.

The funds will aid in the final phases of registering ZEPIZURE®, a treatment for epileptic seizures, and continue initial commercial production. Shares were issued at €1.40, a 22.6% discount from the June 3 closing price. The increase aligns with CROSSJECT's preparation for EUA submission to the FDA and forthcoming production schedules.

With the proceeds, CROSSJECT aims to finance the final development and production of ZEPIZURE®, R&D for its other projects, and cover operational costs. The company anticipates first payments from its American partner starting in the third quarter, while exploring additional financing options.