Singapore-based Cennerv Pharmaceuticals (CPL) has filed a preliminary prospectus to list on the Singapore Exchange (SGX) Catalist Board.
The pricing, amount to be raised, and timing of the offering have not yet been announced.
CPL specialises in treatments of Central Nervous System (CNS) disorders such as depression, insomnia, dementia, schizophrenia and autism. In September 2018, it had filed a preliminary prospectus to list on the Catalist Board but decided to postpone the eventual offering. The latest filing is CPL’s second attempt.
CPL said it intends to use the proceeds to initiate the clinical development of its lead drug candidates, CB2810 and CB2202, and to initiate the preparation of Investigational New Drug (IND) applications for its remaining drug candidates, CB2233, CB8411, and CB0306.
CPL generated other income of S$8,370 ($6,150), but other losses came in at S$98,204, thus wiping out the total income during the nine months ending September 30, 2018. This compares to a total income of S$7,040 during the same period in 2017. Total losses attributable to shareholders worsened to S$1.84 million during the nine-month period, driven by higher employee remuneration.
The company’s controlling shareholder is Dr Anil Kumar Ratty, CPL’s chairman, executive director, and CEO. Ratty currently owns a deemed interest of 60.37 million shares held by Chakra Biotech while another 1.36 million shares are held by his wife, Sawarn Kaur.
The IPO’s sponsor, issue manager, and placement agent is PrimePartners Corporate Finance Pte Ltd.