Oryzon Genomics, S.A. (MAD: ORY) ("Oryzon" or the "Company"), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, has announced the successful pricing of a capital increase of 4,961,833 new common shares, for gross proceeds expected of approximately EUR 13 million issued at a price of EUR 2.62 per share, representing a 12% discount on the closing price of the last three trading days. The offering included institutional investors specialized in healthcare and life sciences from the United States of America and Europe. The Company intends to use the net proceeds from the capital increase to finance the Company’s research and development of clinical pipeline candidates, as well as for working capital and other general corporate purposes. The CEO and President of the Company, Carlos Buesa, and the Member of the Board of Directors, Josep María Echarri, have subscribed shares, attending the round in their personal capacity.
Subject to completion of certain customary closing conditions contained in the securities purchase agreements, closing of the transaction, including the admission of the new shares to trading on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges, through the Spanish Automated Quotation System ( Sistema de Interconexión Bursátil ) is expected on or about October 31, 201 8.
Oryzon and its directors and executive officers have entered into lock - up agreements ending 90 ca lendar days after the date of the securities purchase agreements , subject to certain customar y exceptions .
Roth Capital Partners acted as placement agent for the international tranche , while Solventis AV , S.A. and Banco de Sabadell , S.A. acted as coordinators and placement agents in connection with the Spanish tranche . KPMG Abogados, S.L.P. (in Spanish law) and Davis Polk & Wardwell LLP (in US law) advised the Company as to Spanish and U.S. law, respectively . Likewise, Goodwin Procter LLP (for the international tranche) and J&A Garrigues, S.L.P. (for the Spanish tranche) advised the placement agents as to Spanish and U.S. law, respectively . This announcement does not constitute a prospectus within the meaning of the Prospectus Directive (as defined below) .
On October 26th , the Company has submitted to the Spanish National Securities Market Commission (CNMV) the significant event regarding the approval of the capital increase by the Board of Directors, as well as the procedure through which the private placement was carried out and the results of said placement, which is available on the CNMV website www.cnmv.es.
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company con sidered as the European champion in Epigenetics. Oryzon has one of the strongest portfolios in the field. Oryzon’s LSD1 program has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. Oryzon has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon ’s shares are listed on the Madrid, Barcelona, Bilbao and Valencia Stock Exchanges, through the Spanish Automated Quotation System ( Sistema de Interconexión Bursátil ) . Oryzon has offices in Spain and in the United States of America . For more information, visit www.oryzon.com .