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Pharnext
Pharnext: Reinforcement of Pharnext equity capital by conversion of convertibles bonds
06-March-2019 / 18:30 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
*PARIS, France, 18h30, March 6, 2019 (CET) -**Pharnext SA (FR0011191287 - ALPHA)*, a
biopharmaceutical company pioneering a new approach to developing innovative drug
combinations based on big-data genomics and artificial intelligence,announcedtoday the
implementation of the conversion of all of the convertible bonds held by Tasly, a
leading Chinese pharmaceutical group, for a total amount of EUR25 million.
Within the framework of the different agreements signed with Tasly on May 10, 2017,
the group made an investment of EUR25 million in the form of convertible bonds. The
conversion price of EUR13 represented a premium of greater than 50% in connection with
the stock market price at the time.
"This conversion of convertible bonds by Tasly reflects their expressed confidence
from 2017 in the future of Pharnext,_"_said Daniel Cohen, M.D., Ph.D., co-founder and
Chief Executive Officer of Pharnext."This operation significantly reinforces our
equity capital."
Mr. Kaijin Yan, President and CEO of Tasly Pharmaceuticals [1]added, "We are pleased
to have the opportunity to express our enthusiasm about the future of Pharnext, its
products and its revolutionary PLEOTHERAPY platform._"_
After the conversion, Tasly (https://en.tasly.com/) will hold 15.89% of Pharnext
issued capital.
*About Pharnext*
Pharnext is an advanced clinical-stage biopharmaceutical company developing novel
therapeutics for orphan and common neurodegenerative diseases that currently lack
curative and/or disease-modifying treatments. Pharnext has two lead products in
clinical development. PXT3003 completed an international Phase 3 trial with positive
topline results for the treatment of Charcot-Marie-Tooth disease type 1A and benefits
from orphan drug status in Europe and the United States. PXT864 has generated
encouraging Phase 2 results in Alzheimer's disease. Pharnext has developed a new drug
discovery paradigm based on big genomic data and artificial intelligence:
PLEOTHERAPY. Pharnext identifies and develops synergic combinations of drugs
called PLEODRUG. The Company was founded by renowned scientists and entrepreneurs
including Professor Daniel Cohen, a pioneer in modern genomics, and is supported by a
world-class scientific team.
Pharnext is listed on the Euronext Growth Stock Exchange in Paris (ISIN code:
FR0011191287).
For more information, visit www.pharnext.com [2]
_Disclaimer _
_This press release has been issued to fulfil Pharnext's permanent reporting
obligations. This document does not constitute or form any part of any offer to sell,
or the solicitation of an offer to buy or subscribe for, any shares or securities in
Pharnext, in France, the United States or in any other jurisdiction. It does not
constitute a public offering, subscription offering or a solicitation in view of a
public offering. _
This document does not purport to contain complete information about Pharnext and is
qualified in its entirety by the business, financial and other information that
Pharnext is required to publish in accordance with the rules, regulations and
practices applicable to companies listed on Euronext Growth Paris, including, in
particular, the risk factors set out in Pharnext's document de base registered by the
French Financial Markets Authority (Autorité des marchés financiers) on June 2, 2016
under number I.16-0050, and in any other periodic report, which are available free of
charge on the websites of the Company (www.pharnext.fr) and the AMF
(www.amf-france.org). All statements in this press release are to be forward-looking
statements. These forward-looking statements are not guarantees of future performance
and involve a number of known and unknown risks and uncertainties. These risks and
uncertainties, and other factors, could adversely affect the outcome of the
forward-looking statements, and actual results could differ materially from those
contemplated in the statements. As a result, readers are cautioned that
forward-looking information and statements in this press release are subject to
various risks and uncertainties which are difficult to predict and may cause actual
data and statements to differ materially from those expressed in, or projected by this
document.
_All persons accessing this document are deemed to agree to all the limitations and
restrictions set out above._
*CONTACTS:*
*Pharnext*
François Chamoun
Chief of Legal Officer
investors@pharnext.com
+33 (0)1 41 09 22 30
*Financial Communication *Investor Relations *Investor Relations
(France)* (U.S.)* (Europe)*
Actifin Stern Investor MC Services AG
Stéphane Ruiz Relations, Inc. Anne Hennecke
sruiz@actifin.fr Kendra Packard anne.hennecke@mc-services.eu
+33 (0)1 56 88 11 15 kendra@sternir.com +49 211 529252 22
+1 212 362 1200
*Media Relations (Europe)* *Media Relations
Ulysse Communication (U.S.)*
Bruno Arabian RooneyPartners
barabian Kate L. Barrette
[3]@ulysse-communication.com kbarrette@rooneyco.com
+33 (0)1 81 70 96 30 +1 212 223 0561
Regulatory filing PDF file
Document title: Reinforcement of Pharnext equity capital by conversion of convertibles
bonds
Document: http://n.eqs.com/c/fncls.ssp?u=CCCKLAJLKW [4]
784789 06-March-2019 CET/CEST
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3: mailto:pharnext@alizerp.com
4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c805038771d7b7afa62098c606e30326&application_id=784789&site_id=vwd&application_name=news
(END) Dow Jones Newswires
March 06, 2019 12:30 ET (17:30 GMT)
