Andera Partners Portfolio Company Mineralys Therapeutics Successfully Completes Upsized $192 Million Nasdaq IPO

PRESS RELEASE

Andera Partners Portfolio Company Mineralys Therapeutics Successfully Completes Upsized $192 Million Nasdaq IPO

PARIS, FRANCE – FEBRUARY 14, 2023 – Andera Partners, a leading European private equity player, through its practice Andera Life Sciences, focused on investments in companies developing breakthrough therapeutics and medical technologies, announces that its portfolio company Mineralys Therapeutics completed last Friday an oversubscribed and upsized $192 million initial public offering (IPO) on the Nasdaq Global Select Market at $16.00 per share. The share price rose to $18.44 (+15.25%) at the closing on its first day of trading.

Andera co-led the company’s $118 million Series B financing in June 2022 and re-invested into the oversubscribed IPO financing.

Mineralys is a US-based clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that Mineralys is initially developing for the treatment of patients with uncontrolled hypertension. The company has completed a Phase 2 study in uncontrolled and resistant hypertension and has announced positive results in November 2022. The IPO financing will support the company to advance its pivotal program in uncontrolled hypertension in the United States.

Through this IPO on Nasdaq, Andera Partners supported again the growth of its portfolio companies through public market financing. The importance of such growth path has also been exemplified by Andera’s ex-portfolio company, Axonics Modulation Technologies which was listed on Nasdaq in 2018 and has grown to a multi-billion-dollar medical device leader on the back of impressive execution and the strong interest of public investors. Andera realized full exit of this investment in 2022.

ABOUT MINERALYS

Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that Mineralys is initially developing for the treatment of patients with uncontrolled hypertension.

ABOUT ANDERA PARTNERS

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €3.7 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion, Andera Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).

Based in Paris, with offices in Antwerp and Munich, Andera Partners is wholly owned by its teams, which count nearly 100 professionals, of which 60 are investment professionals. It is structured as a partnership and managed by a board of 12 partners. Responsible and committed, the management company regularly forms partnerships with non-profit sector entities and takes concrete action in the fight against global warming.

Andera's 15-person life sciences team brings together extensive experience in the life sciences industry, private equity and venture capital. Active since 2000, the team has raised over €1.1 billion through its BioDiscovery family of funds and is currently investing from its new BioDiscovery 6 fund. Since inception, the BioDiscovery funds have invested in more than 75 European and U.S. biotech and medtech companies. For further information, please visit www.anderapartners.com.

MEDIA CONTACTS:

• Nicolas DELSERT, Andera Partners: +33 6 22 67 71 17 / n.delsert@anderapartners.com
• Bénédicte DEBUSSCHERE, Bien Commun Advisory : +33 6 48 56 70 71 / b.debusschere@bcadvisory.fr
• Raimund GABRIEL, MC Services: +49 89 210 228 30 / raimund.gabriel@mc-services.eu
• Dr. Johanna KOBLER, MC Services: +49 89 210 228 46 / johanna.kobler@mc-services.eu