CDZ Advises Pharmena on Listing on Warsaw Stock Exchange

CDZ Advises Pharmena on Listing on Warsaw Stock Exchange

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Chajec, Don-Siemion & Zyto has advised biotechnology company Pharmena S.A. on the process of transferring shares to the Warsaw Stock Exchange from the NewConnect market where it has been listed since 2008.

On March 19, 2019, the Polish Financial Supervision Authority approved Pharmena’s prospectus.

CDZ prepared the legal part of the prospectus and, in cooperation with Vestor Dom Maklerski S.A., an independent domestic financial institution, represented Pharmena before the Polish Financial Supervision Authority in proceedings regarding the approval of the prospectus. 

The next step, CDZ reports, will be the process of listing Pharmena on the Warsaw Stock Exchange. According to the CDZ, the public offering of the Pharmena stocks is designed to boost sales of innovative products based on 1-methylnicotinamide chloride (1-MNA) — a physiological and natural active substance that is registered as a new food in the European Union (and which is already patented in Poland and Europe. Pharmena is aiming at registering the molecule in China, India, Japan, and Australia, and to continue research on the drug in other clinical models.

Pharmena President Konrad Palka commented: “In December we started the sale of the first product in Poland. We intend to expand our product portfolio under a new brand and to gain a foothold in foreign markets. We are confident that our recently launched strategy to sell innovative diet supplements which shows an attractive growing market and our products’ potential on European markets will encourage investors to take part in the upcoming offer.”

The CDZ team was led by Partner Maciej Kotlicki, supported by Legal Advisor Piotr Rychta.