Date: 2015-12-15
Type of information: IPO
Company: Oryzon Genomics (Spain)
Investors:
Amount:
Funding type: IPO
Planned used: Oryzon achieved a net profit of € 6.6 million in 2014, with revenues of € 13.1 million. The success of the company during the past year was driven by its agreement with Roche in April 2014, in which the company licensed the rights of its molecule ORY- 1001, a LSD1 inhibitor, to the Swiss multinational.
Also, Oryzon is advancing its leading research on epigenetic treatments for neurodegenerative diseases, and its forerunner asset, ORY-2001 a dual LSD1-MAOB inhibitor, intended to treat neurodegenerative diseases such as Alzheimer\'s Disease is finalizing the preclinical studies. This molecule, which manages to stop the cognitive decline in animal models, will begin human clinical phase I trials in early 2016.
The company will pursue its US plans from its office in Cambridge, Mass. and plans to float in Nasdaq by a dual listing in the midterm.
Others: * On December 10, 2015, Oryzon Genomics announced that the National Securities Market Commission (CNMV) has approved the listing of Oryzon’s shares on the Madrid Stock Exchange. Oryzon will begin trading on December 14, 2015 under the stock symbol ORY (ISIN Code: ES0167733015). The shares will be priced at € 3.39 per share, resulting in a market capitalization of € 96.5 million. Solventis acted as global coordinator of the public listing, KPMG as legal advisor and Grant Thornton as the auditors. * On September 16, 2015, the General Meeting of shareholders of Oryzon Genomics agreed to publicly trade 100% of the company’s shares in the Spanish Main Market. Oryzon will carry out the listing process by submitting the prospectus to the National Securities Market Commission (CNMV in Spain) in Q4-2015 followed by trading on the Madrid Stock Exchange upon standard regulatory process approvals expected to 2016. The firm has engaged Solventis AV to coordinate the investment banking and registration listing process. On December 31, 2014, 32.828% of the shares of Oryzon were held by the founding partners, Carlos Buesa (16,414%) and Tamara Maes (16,414%), while the equity fund Najeti holds 30.779%. In addition, other shareholders with a significant ownership of
the company include the Costex Family Office (5,986%), Sant Bernat SCR RC Corporation SA (4.592%), Josep María Echarri Torres (4,504%) and Grupo Ferrer Internacional (3,217%). The core of the company has committed to a process of lock up, by which Oryzon’s founders, Carlos Buesa and Tamara Maes, are obligated to not to sell their shares on the market within 12 months of listing on the Spanish Continuous Market. In the case of the Najeti fund and José María Echarri, the lockup period will be six months.
Therapeutic area: Cancer - Oncology - Neurodegenerative diseases
