ERYTECH Announces Commencement of Trading of ADSs on Nasdaq and Full Exercise of Underwriters’ Option, Bringing Gross Proceeds of Global Offering to $144 Million
NOT FOR DISTRIBUTION IN AUSTRALIA, CANADA OR JAPAN
ERYTECH Pharma (Euronext Paris: ERYP) (Nasdaq: ERYP) ("ERYTECH"), a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating therapeutic drug substances inside red blood cells, today announced the initial closing of its previously announced global offering to specified categories of investors of an aggregate of 5,374,033 new ordinary shares, comprising an offer of 4,686,106 ordinary shares in the form of American Depositary Shares, each representing one ordinary share ("ADSs"), in the United States at an offering price of $23.26 per ADS and a concurrent private placement in Europe (including France) and other countries outside of the United States and Canada of 687,927 ordinary shares at an offering price of €20.00 per ordinary share. In addition, the underwriters for the global offering have exercised in full their option to purchase at the same price 702,915 additional ADSs and 103,189 additional ordinary shares in the global offering, with the additional closing expected to occur on November 16, 2017. Following the additional closing, aggregate net proceeds to ERYTECH, after deducting underwriting commissions and estimated offering expenses payable by ERYTECH, will be approximately $130 million. All of the securities sold in the global offering were offered by ERYTECH.
ERYTECH's ordinary shares are listed on Euronext Paris under the ticker symbol "ERYP". As of November 10, 2017, ERYTECH’s ADSs are listed on the Nasdaq Global Select Market under the ticker symbol "ERYP".
Jefferies LLC acted as global coordinator and joint book-runner for the global offering. Cowen and Company, LLC acted as joint book-runner and JMP Securities LLC acted as lead manager for the offering of ADSs in the United States. ODDO BHF SCA acted as joint book-runner for the private placement of ERYTECH’s ordinary shares in Europe.
In accordance with Article 6 of delegated regulation EU 2016/1052 of March 8, 2016, Jefferies LLC, acting as the stabilizing agent on its own behalf and on behalf of the other underwriters, reported that no stabilization activities had been carried out since November 10, 2017. The stabilization period is now closed.
The global offering was made only by means of a prospectus. A copy of the prospectus relating to the global offering was filed with the U.S. Securities and Exchange Commission and may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Founded in Lyon, France in 2004, ERYTECH is a clinical-stage biopharmaceutical company developing innovative therapies for rare forms of cancer and orphan diseases. Leveraging its proprietary ERYCAPS platform, which uses a novel technology to encapsulate therapeutic drug substances inside red blood cells, ERYTECH has developed a pipeline of product candidates targeting markets with high unmet medical needs. ERYTECH’s initial focus is on the development of products that target the amino acid metabolism of cancer, depriving them of nutrients necessary for their survival.
The Company’s lead product, eryaspase, also known under the trade name GRASPA®, consists of an enzyme, L-asparaginase, encapsulated inside donor-derived red blood cells. L-asparaginase depletes asparagine, a naturally occurring amino acid essential for the survival and proliferation of cancer cells. L-asparaginase has been a standard component of multi-agent chemotherapy for the treatment of acute lymphoblastic leukemia (ALL), but side effects limit treatment compliance, especially in adults and patients with weak performance status. With its improved safety profile, eryaspase aims to provide L-asparaginase to patients who cannot tolerate current non-encapsulated asparaginases.
ERYTECH is listed on the Nasdaq Global Select Market in the United States (ticker: ERYP). ERYTECH is also listed on the Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes.
This announcement does not, and shall not, in any circumstances constitute a public offering nor an invitation to solicit the interest of the public in France, the United States, or in any other jurisdiction, in connection with any offer.
The distribution of this document may, in certain jurisdictions, be restricted by local legislations. Persons into whose possession this document comes are required to inform themselves about and to observe any such potential local restrictions.
This announcement is not an advertisement and not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003, as amended (the "Prospectus Directive").
With respect to the member States of the European Economic Area, no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any relevant member State. As a result, the securities may not and will not be offered in any relevant member State except in accordance with the exemptions set forth in Article 3(2) of the Prospectus Directive or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the Prospectus Directive and/or to applicable regulations of that relevant member State.
This document does not constitute an offer to the public in France and the securities referred to in this document can only be offered or sold in France pursuant to article L. 411-2-II of the French Monetary and Financial Code to (i) providers of third party portfolio management investment services, (ii) qualified investors (investisseurs qualifiés) acting for their own account and/or (iii) a limited group of investors (cercle restreint d’investisseurs) acting for their own account, all as defined in and in accordance with articles L. 411-1, L. 411-2 and D. 411-1 to D. 411-4 and D. 754-1 and D. 764-1 of the French Monetary and Financial Code.
This document is only being distributed to, and is only directed at, persons in the United Kingdom that (i) are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc.”) of the Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of Article 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). This document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.
This document does not constitute an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States or any other jurisdiction where such offer may be restricted. The securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an applicable exemption from registration requirements under the Securities Act.
Director of Investor Relations
+33 4 78 74 44 38
+1 917 312 5151
The Ruth Group
Lee Roth, +1 646 536 7012
Media relations, +1 508 280 6592
+33 1 44 71 98 52
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
inRiver Expands Executive Bench and Growth Initiatives for 201921.1.2019 07:00 | Pressemelding
inRiver, the leading provider of SaaS-based product information management (PIM) solutions, today elevated veteran sales executive Jimmy Jeppsson Bäckström to chief revenue officer, and promoted Johan Eriksson to chief financial officer, rounding out the executive team additions that included Thor Johnson, chief executive officer, Eric Waller, chief technology officer and executive vice president of product, Maria Bolmstedt, vice president of services, and Steve Gershik, chief marketing officer in 2018. The past year yielded tremendous growth for inRiver as the organization continued to strengthen its presence in North America and expand operations in Europe with 40% increase in new customer logos and more than 50% increase in recurring revenue. New customers in retail and branded manufacturing within the fashion, construction, accessories, medical devices, food and beverage, and furniture verticals have grown the inRiver community to over 1,500 brands and 500 customers globally. “Cust
Former Commander of the Estonian Defence Forces, Gen Riho Terras Joins Milrem Robotics’ Team21.1.2019 07:00 | Pressemelding
Gen (ret) Riho Terras who served as the Commander of the Estonian Defence Forces for 7 years and retired in December 2018 joins the team of one of the leading unmanned warfare systems developers Milrem Robotics to head up its Defence Division. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190120005004/en/ The CEO and owner of Milrem Robotics Kuldar Vaarsi (left) and the new Director of the Defence Division Gen (ret) Riho Terras. (Photo: Business Wire) General Terras’ main responsibilities will be establishing Milrem Robotics’ international business development and program support teams, leading the process of gaining a strong foothold in the defence market and bringing end-user specific know-how to company’s strategic R&D activities. “General Terras’ strong background and experience put him in a good position to grow the company’s international presence and build up our teams worldwide,” explained Kuldar Väärsi, CEO and own
MagicStay Launches a New Loyalty Program21.1.2019 07:00 | Pressemelding
MagicStay, the first apartment booking site dedicated to business travel and mobility, is launching its new Magic Loyalty Card program to reward traveler loyalty. MagicStay is the first French alternative accommodation booking site, created to meet the requirements of business travel (duty of care, date protection, travel policy…) and available for all those who wish to travel peacefully. The platform provides over 200 000 studios, apartments and houses in more than 90 countries. Collect points for every euro spent: When booking on MagicStay, for every euro spent, customers will receive one loyalty point. Put forward to simplify and personalize customer experience, the program allows travelers to spend the collected points as they wish: discount on future reservations, gifts or donations to charitable organizations. Each customer will be able to consult their loyalty points on their personal space on www.magicstay.com and transform them at any time. This loyalty program is intended for
US FDA Approves ONTRUZANT® (trastuzumab-dttb), Samsung Bioepis’ First Oncology Medicine in the United States20.1.2019 23:38 | Pressemelding
Samsung Bioepis Co., Ltd. today announced that the U.S. Food and Drug Administration (FDA) has approved ONTRUZANT® (trastuzumab-dttb), a biosimilar referencing HERCEPTIN® 1 (trastuzumab), across all eligible indications, namely adjuvant treatment of HER2-overexpressing breast cancer, metastatic breast cancer and metastatic gastric cancer or gastroesophageal junction adenocarcinoma in patients who have not received prior treatment for metastatic disease. Please see Boxed Warnings and Important Safety Information for ONTRUZANT® below. ONTRUZANT® is Samsung Bioepis’ first oncology biosimilar to receive FDA approval, and will be marketed and distributed in the United States (US) by Merck, which is known as MSD outside of the US and Canada. “For many cancer patients in the US, battling cancer has not only been a health issue, but a considerable financial burden brought on by cancer treatment. Biosimilars are intended to be lower cost, high-quality treatment options that have the potential t
More4Apps to Join the Cloud20.1.2019 22:53 | Pressemelding
More4Apps, the NZ-based software integration specialist known for its Excel based Oracle EBS integration tools, has confirmed it will be building product for Cloud ERP. “We're overwhelmed by the number of customers asking for our solutions to be migrated to the new ERP system, and that’s driven our strategic commitment to developing Cloud-based data entry tools,” said Bruce Doig, co-founder and Head of Innovation at More4Apps. “Already we have a large team working closely with a well known US fast food restaurant chain to deliver several loaders integrated with Oracle ERP Cloud.” As a Gold Partner with Oracle, More4Apps is well positioned to develop a range of integration tools for the new platform, with an intimate knowledge of the existing EBS and a close working relationship with a customer with whom they are collaborating to develop data loaders for the new SaaS platform. And whilst the capabilities of Cloud ERP are yet to be fully proven, More4Apps are confident there will be a pl
Warm welcome for ABB Formula E in Davos19.1.2019 09:00 | Pressemelding
Just a few days before the start of the World Economic Forum 2019, Davos is celebrating a world premiere: The latest ABB FIA Formula E racing car - dubbed Gen2 – was transported on a train from the iconic Swiss Rhaetian Railway to Europe’s highest city, where it will be an exciting eyecatcher during the coming week at the Davos Platz railway station. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190119005003/en/ ABB FIA Formula E racing car in Davos (Photo: Business Wire) From this Saturday until next Sunday, January 27, the Gen2 will be on display in a special glass case. Interested passersby can learn about the ABB FIA Formula E racing series as well as about the activities of ABB in e-mobility via an information system. With over 8,500 fast charging stations installed in 70 countries around the world, ABB is the global market leader for charging infrastructures. To watch the video, click here ABB (ABBN: SIX Swiss Ex) is