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ASIT biotech (BSE:ASIT) (Paris:ASIT) (Euronext: ASIT BE0974289218), a Belgian biopharmaceutical company specializing in allergy immunotherapy, announces today the launch of a private placement (the "Offering") of unsecured convertible notes, pursuant to the 12th resolution of the Extraordinary General Meeting of June 28, 2019, in the context of a book building procedure organized by the Company and Bryan, Garnier Co Limited as Bookrunner.
ASIT biotech intends to use the net proceeds of the Offering for the clinical development of its product candidates:
- Completion of ABT011 Phase III (gp-ASIT+ in grass pollen rhinitis), including data package preparation for filing.
- Preparation of a second-year treatment Phase III study in Europe, which should begin prior to the 2020 pollen season with the patients who finished ABT011.
- Finalization of pre-clinical package for pnt-ASIT+ in peanut allergy.
The book building process begins immediately following this announcement. The results of the Offering will be announced as soon as possible after the closing of the book building in a press release.
Trading of the company's shares on Euronext Brussels and Euronext Paris will be suspended during the book building period and trading of in stock is expected to resume following the publication of the results of the Offering.
About ASIT biotech
ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+ technology platform, ASIT biotech is currently the only developer of allergy immunotherapy (AIT) product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech's product pipeline contains three novel ASIT+ product candidates targeting respiratory allergies with the highest prevalence (i.e. grass pollen: gp-ASIT+ in ongoing phase III and house dust mite: hdm-ASIT+), and food allergies (peanut allergy: pnt-ASIT+) that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+ platform is flexible and would be applicable across a range of allergies.
Further information can be found at www.asitbiotech.com.
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This announcement is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for the Company's shares in any jurisdiction. This announcement does not constitute a prospectus. Any purchase of, subscription for or application for, Shares to be issued in connection with the intended offering should only be made on the basis of information contained in the prospectus and any supplements thereto, as the case may be.
Forward-looking statements
This release may contain forward-looking statements. Such forward-looking statements are not guarantees of future results. These forward-looking statements speak only as of the date of publication of this document. The Company expressly disclaims any obligation to update any forward-looking statements in this document, unless specifically required by law or regulation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190717005751/en/
Contacts:
Company
Michel Baijot, CEO
ASIT biotech
Tel.: +32 2 264 03 90
investors@asitbiotech.com
Investor Relations
LifeSci Advisors LLC
Hans Herklots
Tel.: +41 79 598 7149
hherklots@lifesciadvisors.com
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Sophie Baumont
Tel.: +33 627 74 74 49
sophie@lifesciadvisors.com