Bryan, Garnier & Co. successfully leads a Secondary Placement for Erytech Pharma

Erytech Feb 2014 tombstone
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Paris, March 17th, 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 12th), and the company had a free float estimated at 28%.


Founded in Lyon in 2004, ERYTECH is a French biopharmaceutical company providing new prospects for cancer patients, particularly those with acute leukaemia and selected solid tumours. Every year about 50,000 patients are diagnosed with Acute Lymphoblastic Leukemia (ALL) or Acute Myeloid Leukemia (AML), the two forms of acute leukaemia. 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 leukaemia 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 tumours 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.


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