Herantis Pharma evaluates alternatives to finance its Research & Development pipeline and will convene an Extraordinary General Meeting
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Herantis Pharma Plc (“Herantis”), an innovative drug development company aiming to revolutionize standard therapeutic approaches with leading biologic and gene therapy, announced on 1 November 2020 an update on its Research & Development pipeline, with said announcement describing the company's intention to pursue alternative administration methods for CDNF, continue research on xCDNF and complete the current Phase II study on Lymfactin®.
For the purposes of financing these developments in the Research & Development pipeline, Herantis has initiated a process to evaluate, together with its financial advisers, the company's options regarding potential equity financing. The assessment of different financing options is ongoing, including the amount of the pursued financing, and timing thereof. Any share issues and equity financing transactions related to this assessment would be intended to be carried out from Q4 2020 through the end of 2021.
Further, the Board of Directors of Herantis will propose to an extraordinary general meeting that sufficient authorizations are granted for the Board of Directors to resolve on the aforementioned potential share issues and certain other matters. The extraordinary general meeting of shareholders will be convened to be held on 2 December 2020 and the notice to the extraordinary general meeting of shareholders will be announced later today.
In order to prevent the spread of the COVID-19 pandemic, the meeting will be organized so that the shareholders are not allowed to be present at the meeting venue. Shareholders can participate in the meeting and use their shareholder rights only by voting in advance in accordance with the instructions to be issued by the company.
"As announced on 1 November 2020, Herantis is putting in place an updated R&D strategy that is intended to allow us to build on the CDNF program to date, whilst at the same time focusing on developing a patient and regulatory friendly proposition without the need for an invasive surgical device. It will, we believe, result in accelerated and optimized development, approval, and commercialization, as well as increased partnerability prospects. It will also enable earlier treatment of the Parkinson's Disease, where CDNF is anticipated to be at its most effective, thus expanding the target patient population. This strategy would also aim to ensure that we spend funds available to us as efficiently as possible. To facilitate and accelerate these updated aims, Herantis will explore financing options available to it and convene an extraordinary general meeting to enable the company to carry out potential equity issues. Herantis' aim is to be well positioned to obtain financing on terms that will be beneficial to the company,” commented Craig Cook, CEO.
For more information, please contact:
Julie Silber/Gabriela Urquilla
Tel: +46 (0)7 93 486 277/+46 (0)72-396 72 19
Email:ir@herantis.com
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Certified Advisor: UB Securities Ltd, Finland: +358 9 25 380 225, Sweden: +358 40 5161400
Company website: www.herantis.com
About Herantis Pharma Plc
Herantis Pharma Plc is an innovative drug development company looking to break the boundaries of standard therapeutic approaches. Our regenerative medicine drug candidates include i. CDNF biological therapy that acts on the proteostatic mechanisms of disease for the treatment of Parkinson’s disease and other neurodegenerative diseases, and ii. Lymfactin® VEGF-C gene therapy for restoring lymphatic structure and function for the treatment of oncology related secondary Lymphedema and other lymphatic based diseases. The Herantis programs are potentially disease modifying that treat the cause as well as symptoms of disease, and bring the innovation necessary to provide further treatment options in underserved diseases. The shares of Herantis are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
Forward-looking statements
This company release includes forward-looking statements which are not historical facts but statements regarding future expectations instead. These forward-looking statements include without limitation, those regarding Herantis’ future financial position and results of operations, the company’s strategy, objectives, future developments in the markets in which the company participates or is seeking to participate or anticipated regulatory changes in the markets in which the company operates or intends to operate. In some cases, forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should” or “will” or the negative of such terms or other comparable terminology.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and are based on numerous assumptions. The company’s actual results of operations, including the company’s financial condition and liquidity and the development of the industry in which the company operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this company release. Factors, including risks and uncertainties that could cause these differences include, but are not limited to risks associated with implementation of Herantis’ strategy, risks and uncertainties associated with the development and/or approval of Herantis’ drug candidates, ongoing and future clinical trials and expected trial results, the ability to commercialize drug candidates, technology changes and new products in Herantis’ potential market and industry, Herantis’ freedom to operate in respect of the products it develops (which freedom may be limited, e.g., by competitors’ patents), the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions, and legislative, regulatory and political factors.
In addition, even if Herantis’ historical results of operations, including the company’s financial condition and liquidity and the development of the industry in which the company operates, are consistent with the forward-looking statements contained in this company release, those results or developments may not be indicative of results or developments in subsequent periods.
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This release is directed only to (A) persons who are outside the United States of America; (B) persons who are resident in a Member State of the European Economic Area and are a qualified investor (within the meaning of Article 2(1)(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation")); and (C) as regards the United Kingdom, (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (ii) high net worth entities; and (iii) and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any securities mentioned herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. No one who is not a Relevant Person shall act on the basis of this release.
This release does not constitute an offer for sale of securities in the United States. The shares may not be offered or sold within the United States absent of registration or an exemption under the U.S. Securities Act 1933 (as amended). The Company has not registered and it does not intend to register, any portion of the offering in the United States, and it does not intend to conduct a public offering in the United States.