Paris (France), Copenhagen (Denmark) – Onxeo S.A. (Euronext Paris, Nasdaq Copenhagen: ONXEO, “Onxeo” or ”the Company”), a biopharmaceutical company specializing in the development of innovative drugs for the treatment of orphan diseases, in particular in oncology, today announced the launch of a capital increase of new ordinary shares without preferential subscription rights reserved for the category of investors described below.
The Company intends to use the net proceeds from this capital increase to pursue its R&D programs in the field of innovative therapeutics for rare cancers. More specifically, the Company plans to finance:
Key upcoming milestones of programs currently funded include:
− Preclinical combination plan
− Next DSMB for the Phase III trial: Q4 2016
− Preliminary results of the Phase III trial: expected mid-2017
− Preclinical combination study results: end of 2016 and onwards
− 1st line PTCL Phase III initiation: end of 2016
− Phase I initiation (monotherapy systemic): expected in 2017
The capital increase will be carried out without shareholders’ preferential subscription rights. Pursuant to Article L. 225-138 of the French Commercial Code (Code de commerce), it will be reserved for a category of investors defined in the 17th resolution of the General Shareholders’ Meeting dated April 6, 2016, i.e. sociétés et fonds d’investissement investissant à titre habituel dans des sociétés de croissance dites « small caps » (c’est-à-dire dont la capitalisation lorsqu’elles sont cotées n’excède pas
1 000 000 000 euros) (en ce compris, sans limitation, tout FCPI, FCPR ou FIP) dans le secteur de la santé ou des biotechnologies participant à l’augmentation de capital pour un montant unitaire d’investissement supérieur à 100 000 euros (prime d’émission incluse), dans la limite d’un maximum de 25 souscripteurs (i.e. companies and investment funds that commonly invest in “small caps” (i.e. if listed, with a maximum market capitalization of €1,000,000,000) (including, without limitation, any mutual fund for investment, venture capital fund, or local investment fund) in the health or biotechnology sector participating in the share capital increase for a unit investment amount of over €100,000 (including issue premium), with a maximum of 25 investors). A maximum of 12,165,624 new shares will be issued, representing around 30% of the current share capital.
The issue price of new ordinary shares will have a maximum discount of 25% to the volume weighted average share price of the Company’s shares listed on the regulated market of Euronext Paris during the 3 last trading days preceding the determination of the issue price.
Application will be made to list the new ordinary shares on the regulated market of Euronext Paris and Nasdaq Copenhagen. A listing prospectus comprising the 2015 Reference Document (Document de Référence) of the Company registered with the French Autorité des Marchés Financiers (“AMF”) on April 29, 2016 under number D.16-0452, the half-year financial report 2016 published by the Company on July 28, 2016, and a Securities Note (Note d’Opération), including a summary of the prospectus, will be submitted to the visa application with the AMF. The attention of the public is drawn to the risk factors presented in section 126.96.36.199.1 of the 2015 Reference Document and section 2 of the Securities Note.
Simultaneously with the determination of the final terms and conditions of the capital increase, the Company will enter into a lock-up agreement ending 90 calendar days after the date of the pricing of the offering, subject to certain customary exceptions. All persons acting on behalf of the Company (i.e. executives and/or directors) have also signed lock-up agreements with regard to the Company’s shares that they hold, for the same period.
Guggenheim Securities, LLC and Oddo & Cie are acting as Joint Bookrunners.
The final terms of the private placement will be announced as soon as practicable.
This announcement does not constitute a prospectus within the meaning of the Prospectus Directive or an offer to the public.