Date: 2013-01-25
Type of information: Capital increase
Company: Epigenomics (Germany - USA)
Investors:
Amount: € 4,976,099
Funding type: capital increase by way of a rights issue
Planned used: Epigenomics AG intends to use the net proceeds from the offering to finance its current operations and to build and strengthen the distribution capacities for its products. The Company recently announced results of the head-to-head comparison study between its blood-based Epi proColon® and FIT for the detection of colorectal cancer and remains to be on track to file the final module of the PMA submission with the FDA before the end of this year. A subsequent decision by the FDA on the PMA submission for Epi proColon® is expected during the second half of 2013.
Others: * On January 25, 2013, Epigenomics has announced the successful completion of a capital increase by way of a rights issue and a subsequent private placement. Gross proceeds amount to € 4,976,099, extending, based upon current projections, the cash runway of the Company at least into Q4 2013. 2,811,707 new ordinary bearer shares were taken up by the shareholders at a subscription price of € 1.58 per new share during the subscription period which started on January 11, 2013 and ended on January 24, 2013. The remaining 337,723 unsubscribed new shares were sold at the subscription price of € 1.58 per new share in a private placement to institutional investors. The private placement was significantly oversubscribed, enabling Epigenomics AG to place the maximum number of new shares. The capital increase was conducted by Kempen & Co. * On December 20,2012, Epigenomics, the German-American cancer molecular diagnostics company, has announced the intention to launch a capital increase by way of a rights issue in January 2013. With the capital increase the Company plans to generate gross proceeds of up to just under €5 million and aims to extend the cash runway of the Company at least into Q4 2013.
Trading in the new shares is expected to begin on January 30, 2013, and delivery of the new shares to the investors is expected on January 31, 2013. With the registration of the implementation of the capital increase the total issued share capital of Epigenomics increases from € 8,818,417.00 to € 11,967,847.00.
In line with previous announcements, and supported by the recent submission of its Premarket Approval (PMA) to the FDA for its blood-based Epi proColon® test for the detection of colorectal cancer in December 2012, Epigenomics will continue to explore all strategic options for the Company. These options especially include the possibility of securing additional financial resources to support the Company’s operations up to and beyond a potential FDA approval for Epi proColon®.
Therapeutic area: Diagnostic - Cancer - Oncology
