Paris, March 17 2014 – Bryan, Garnier & Co successfully leads the secondary placement of 17.5% of Erytech shares through an accelerated book-building process to institutional investors. This transaction enlarged the company’s investor base with new European and US investors and improved the stock’s liquidity.
Bryan, Garnier & Co, the pan-European investment bank for growth companies, announces a secondary placement of 17.5% of the outstanding shares of ERYTECH, for a total amount of €12.4m. US investors specialized in the Healthcare sector represented more than 35% of the total placement. The transaction was completed on February 12th.
As a result of this placement, the company benefits
from an expanded free float and liquidity of the stock has substantially
improved. In the week following the transaction, ERYTECH stock price increased
by 9% to €16.17.
Created in 2004, ERYTECH is a French biopharmaceutical
company that designs innovative treatments for acute leukaemia and other
oncology indications with unmet medical needs. Its lead product, Graspa®, currently
in the last clinical development phase, targets a potential market of €1bn.
ERYTECH has already entered into two marketing partnerships with major pharma
groups: Recordati-Orphan Europe, a leading player in orphan drugs, for Europe and
TEVA for Israel.
Bryan, Garnier & Co led the IPO of ERYTECH on
Euronext in May 2013. Prior to this secondary placement, the company’s market
capitalization was €82.7m (based on last close price as of February 12) and the
company had a free float estimated at 28%.
About ERYTECH (www.erytech.com)
Founded in Lyon in 2004, ERYTECH is a French biopharmaceutical company providing new prospects for cancer patients, particularly those with acute leukemia and selected solid tumors. Every year about 50,000 patients are diagnosed with Acute Lymphoblastic Leukemia (ALL) or Acute Myeloid Leukemia (AML), the two forms of acute leukemia. Today, for about 80% of these patients, mainly adults and relapsing patients, there is no adequate solution due to the toxicity of existing treatments. By encapsulating the asparaginase enzyme in red blood cells, ERYTECH has developed GRASPA®, an original and effective treatment that targets leukemia cells through “starvation” while significantly reducing the side effects for patients, and allowing all patients to be treated, even the most fragile ones, representing a market opportunity of more than EUR 1 billion. GRASPA® is currently completing Phase III clinical development in Acute Lymphoblastic Leukemia (ALL) and is in Phase IIb clinical trial in Acute Myeloid Leukemia (AML) in Europe. The product received FDA clearance to start clinical development in ALL in the USA. ERYTECH has concluded distribution partnership agreements for Europe with Orphan Europe (Recordati Group), and with TEVA for Israel. The company is also developing other indications in solid tumors and certain orphan indications outside oncology. ERYTECH has its own GMP-approved and operational manufacturing site. ERYTECH is listed on Euronext regulated market in Paris. (ISIN code: FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharm. & Bio and Next Biotech indexes.
About Bryan, Garnier & Co (www.bryangarnier.com )
Bryan, Garnier & Co is an independent investment bank specialized in European TMT, Healthcare and Renewable Energies growth companies. Bryan, Garnier & Co is positioned in three activities: Equity Research & Brokerage, Asset Management and Corporate Finance. With more than 150 professionals based in London, Paris, New Delhi, New York and Geneva, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique. Through its corporate finance practice, Bryan, Garnier & Co has become a leader in advising European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs and private placement over the last three years. Bryan, Garnier & Co is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active on all European capital markets.