Rights offering of Cassiopea with Credit Suisse as lead manager: the advisor

On June 3, 2020, SIX Swiss Exchange listed Cassiopea – an Italian specialty pharmaceutical company developing and preparing to commercialize prescription drugs with novel mechanisms of action (MOA) to address long-standing and essential dermatological conditions – starts its right offering of 750,000 registered shares.

Cassiopea expects to receive net proceeds from the offering of approximately EUR 22.3 million, which will be used to finance the company’s operations up to the planned approval of Clascoterone cream 1% in H2 2020 and the preparation of Clascoterone cream 1%’s subsequent launch in the U.S. and for general corporate purposes. It is expected that the newly issued shares will be traded on the SIX Swiss Exchange for the first time on June 18, 2020.

The team

Lenz & Staehelin is acting as counsel to Credit Suisse as lead manager. The team includes partner Patrick Schleiffer (pictured), associate Patrick Schärli and trainee Alessio Zolpi (all capital markets and corporate) and associate Florence Hediger (Tax).