Date: 2016-04-19
Type of information: IPO
Company: Amryt Pharma (UK)
Investors:
Amount: £10.0 million
Funding type: IP0
Planned used: The new funds will enable Amryt Pharma to accelerate the development of Episalvan® as a treatment for epidermolysis bullosa. Episalvan® has been awarded Orphan Drug Designation in the US and EU for this rare disease. The drug has successfully completed a Phase IIa study in ten epidermolysis bullosa patients (data from 12 wounds), in which Episalvan® demonstrated significantly faster healing over 14 days of treatment for recent wounds and 28 days of treatment for chronic wounds compared with standard of care therapy. The Company intends to seek approval for Episalvan in EB in Europe and the US and is planning a phase III study in H2 2016 in this indication. Amryt Pharma’s pipeline product AP102 is targeted as a treatment for acromegaly and Cushings and the Company estimates this product addresses markets in excess of US$1.15 billion per annum in aggregate.
Others: * On April 19 2016, Amryt Pharma, a specialty pharma company focused on best in class treatments for orphan diseases, announced the admission of its enlarged issued share capital to trading on AIM, a market of London Stock Exchange, and ESM, a market of the Irish Stock Exchange. This follows the successful reverse takeoverr of Fastnet Equity by Amryt Pharmaceuticals Designated Activity Company, the renaming of the resulting company as Amryt Pharma plc and a placing of 41,673,402 new ordinary shares at 24 pence per New Ordinary Share to raise £10.0 million (before expenses), which were also completed. On admission, the Company will have 208,339,631 ordinary shares admitted to trading on AIM and the ESM. Shore Capital acted as Lead Manager, Nomad and Joint Broker, Davy acted as ESM Adviser and Joint Broker and Stifel acted as Co-lead manager.
Therapeutic area: Rare diseases
