DUBLIN Sensorion SAS, the latest addition to France's lengthening list of quoted biotechnology firms, is among a growing clutch of companies developing drugs for disorders of the inner ear.
It recently raised €8.2 million (US$9.2 million) on the junior Alternext exchange in Paris, by issuing about 1.8 million new shares priced at €4.54 per share.
That conferred on the Montpellier-based company a modest market cap of €23 million. A solid share price performance since its April 21 debut has moved the needle upward. The stock (PARIS:ALSEN) closed Friday at €7.88, implying a valuation of €40 million.
Sensorion, which was spun out of the French National Institute of Health and Medical Research (Inserm) in 2009, is taking a distinctive approach to drug development for inner ear disorders. It is