Date: 2014-10-23
Type of information: Capital increase
Company: Erytech Pharma (France)
Investors:
Amount: € 30 million
Funding type: capital increase
Planned used: This capital increase will support the financing of two new Phase II or Phase III clinical studies on Ery-Asp™/Graspa® in oncology or hemato-oncology; the acceleration of the development of the clinical Phase I/II study with Ery -Asp™/Graspa® and an additional clinical study in the U.S.; the pre-clinical and Phase I clinical development of Ery-Met in a therapeutic indication in oncology and the pharmaceutical production of GMP batches of methioninase (in addition to Bpifrance financing); the regulatory and clinical costs for registering Ery-Asp™/Graspa® in Europe; the general costs associated with the completion of the above projects.Furthermore, Erytech will use the proceeds of this capital increase to finance its share, 52%, of the future costs for ERY-MET with the knowledge that Bpifrance will assume 48% of the project costs as defined in the contract.
Others: * On October 23, 2014, Erytech, the French biopharmaceutical company that develops innovative ‘tumor starvation’ treatments for acute leukemia and other oncology indications with unmet medical need, announced the completion of a capital increase for a total amount of €30 million. A total of 1,224,489 new shares will be issued within a capital increase with suppression of preferential subscription rights,reserved for investors accustomed to investing in the health sector. The new shares represent around 17.8% of the number of shares in circulation (after capital increase). The issue price has been set at €24.50per share, in accordance with resolution 10 of the Shareholders’ Meeting of June 17, 2014. This price represents a discount of 3.5% compared to the weighted average stock price over the past five trading sessions, which was €25.39. In total, 80% of the operation was executed internationally, with 68% in the U.S. The new shares have a nominal value of €122,449 and will be in the same category as the company’s current shares. They will carry immediate dividend rights and will give the right, as of their issue, to all distributions decided by the Company as of this date. Listing on the Euronext regulated market (“Euronext Paris”) will be requested and will be subject to a listing prospectus and the approval of the French Autorité des Marchés Financiers (AMF). The new shares will be listed under the same code as the previous shares (ISIN FR0011471135). The settlement and delivery should occur on October 27, 2014.
Therapeutic area: Cancer - Oncology
