NeuroSense Therapeutics Announces Closing of Nasdaq Capital Market Initial Public Offering | 2021-12-13 | Press Releases

CAMBRIDGE, Mass., December 13, 2021 /PRNewswire/ — NeuroSense Therapeutics Ltd.(Nasdaq: NRSN) (“NeuroSense”), a clinical-stage biotechnology company focused on discovering and developing treatments for patients suffering from debilitating neurodegenerative diseases, such as ALS, Alzheimer’s disease and of Parkinson, today announced the closing of its first public offering on the Nasdaq Capital Market of 2,000,000 units, each consisting of one common share and one warrant representing the right to purchase one share ordinary with an exercise price of $6.00 per share, at an IPO price of $6.00 per unit. In addition, NeuroSense has granted the underwriter a 45-day option to purchase up to an additional 300,000 shares of common stock and/or 300,000 additional warrants at the IPO price, less underwriting discounts and commissions. The underwriter partially exercised his option and purchased an additional 300,000 warrants, each representing the right to purchase one common share. Common stock and warrants of NeuroSense began trading on the Nasdaq Capital Market on December 9, 2021 under the symbols “NRSN” and “NRSNW”, respectively. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering costs, were approximately $12 millionincluding subscriber’s option.

Maxim Group LLC acted as the sole bookkeeper for the offering.

NeuroSense received net proceeds from this offering of approximately $9.9 million, after deducting underwriting discounts and commissions and estimated offering fees payable by NeuroSense. NeuroSense intends to use the net proceeds of this offering to advance the clinical development of its lead product candidate, PrimeC, for the treatment of ALS through completion of a planned Phase IIb trial and preparation the initiation of a Phase III clinical trial, for preclinical research and development in support of potential applications of investigational new drugs for its product candidates targeting Alzheimer’s disease and Parkinson’s disease, as well as for the working capital and general business needs.

Alon Ben Noon, CEO of NeuroSense said, “We are grateful to all of the investors who participated in the IPO and of course to everyone who has supported NeuroSense from the beginning. Many of our investors are also ALS patients and their family members and we are proud of that. The completion of this IPO is an important milestone in our continued efforts to bring effective treatments to patients suffering from neurodegenerative diseases. »

Marc Leuchtenberger, Chairman of NeuroSense’s Board of Directors, added, “With this successful IPO, the Company enters a new era in its mission to improve the lives of ALS patients and other patients through the development of new options. treatment. Many of us at NeuroSense have lost friends and family to these diseases, and we have promised to work tirelessly to achieve this goal. With these funds, we are now implementing plans that can deliver on that promise.

A registration statement relating to the securities sold pursuant to this offering has been filed with the Securities and Exchange Commission (the “SEC”) and declared effective on December 8, 2021. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the initial public offering may be obtained free of charge by visiting EDGAR on the SEC’s website at Alternatively, electronic copies of the final prospectus may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration. or qualification under the securities law of such state or territory.

About NeuroSense Therapeutics

NeuroSense Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of treatments for patients suffering from debilitating neurodegenerative diseases. NeuroSense believes that these diseases, which include ALS, Alzheimer’s disease and Parkinson’s disease, among others, represent one of the greatest unmet medical needs of our time, with limited effective treatment options for patients. . Due to the complexity of neurodegenerative diseases, NeuroSense’s strategy is to develop combination therapies targeting multiple pathways associated with these diseases.

Forward-looking statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate”, “believe”, “intend”, “could”, “estimate”, “expect”, “have the ‘intent to’, ‘seek,’ ‘may’, ‘could’, ‘plan’, ‘potential’, ‘predict’, ‘project’, ‘target’, ‘aim’, ‘should’, ‘will’, ‘ would” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on NeuroSense Therapeutics’ current expectations and are subject to uncertainties, risks and inherent assumptions which are difficult to predict and include statements regarding the intended use of the products. In addition, certain forward-looking statements are based on assumptions regarding future events which may not prove to be accurate. The forward-looking statements contained in this announcement are made on this date e, and NeuroSense Therapeutics Ltd. assumes no obligation to update this information, except as required by applicable law.

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