Paris, 28 October 2014 – Hybrigenics SA (ALHYG), a bio-pharmaceutical company listed on the Alternext market of Euronext Paris, with a focus on research and development of new treatments against proliferative diseases and specialised in proteomic and genomic scientific services, today announces the successful completion of a private placement for $6 million to the Crede Capital Group, llc, a US-based family office, which has completed numerous investments in European life sciences companies. Terren Peizer, Chairman of Crede Capital Group, his personal investment vehicle, commented, “We are gratified that the market is recognizing what we believe; that Hybigenics’ vitamin D receptor agonist represents an important drug candidate for the treatment of castrate resistant prostate cancer. We are proud to provide the Company with the capital to commercialize this intriguing drug candidate.”
A total of 3,500,000 new shares have been issued at €1.32 each, representing a 20% discount to the 5-day volume weighted average price of Hybrigenics shares prior to the operation which was completed on the basis of the delegation in place according to the 11th resolution voted by the Shareholders’ Meeting of June 20, 2014 with respect to private placements to qualified investors or to a small number of investors with the meaning of the paragraph II of article L. 411-2 of the French financial and monetary Code. The new shares are of the same class as existing shares and represent 13.5% of Hybrigenics’ capital before the capital raise and 11.9% after.
“The success of this capital increase by Crede Capital Group, a US family office, demonstrates the attractiveness of Hybrigenics. Hybrigenics combines the clinical development of inecalcitol in orphan adult leukemias, the research collaboration with Servier and the expanding business of proteomic and genomic services. This capital increase will enable Hybrigenics to strengthen its research and clinical development activities,” said Remi Delansorne, Hybrigenics’ CEO.
Hybrigenics (www.hybrigenics.com) is a bio-pharmaceutical group listed (ALHYG) on the Alternext market of Euronext Paris, focusing its internal R&D programs on innovative targets and therapies for the treatment of proliferative diseases and providing cutting-edge proteomic and genomic scientific services.
Hybrigenics’ current development program is based on inecalcitol, a vitamin D receptor agonist active by oral administration. Oral inecalcitol has shown excellent tolerance and strong presumption of efficacy for the first-line treatment of metastastic castrate-resistant prostate cancer in combination with Taxotere®, which is the current gold-standard chemotherapeutic treatment for this indication. Oral inecalcitol has also been tested in chronic lymphocytic leukemia patients, an indication for which inecalcitol has received orphan drug status in Europe and the United States.
Hybrigenics has a research collaboration with Servier on deubiquitinating enzymes and their inhibitors in oncology, neurology, psychiatry, rheumatology, ophthalmology, diabetes and cardiovascular diseases. Hybrigenics continues to build on its pioneer research position in the field of ubiquitin-specific proteases by exploring their role in other areas of particular relevance, such as inflammation and virology.
Hybrigenics Services (www.hybrigenics-services.com) is the market leader in Yeast Two-Hybrid (Y2H) and related services to identify, validate and inhibit protein interactions for researchers in all areas of life sciences, using its ISO 9001-certified high-throughput Y2H screening platform.
Helixio (www.helixio.com), Hybrigenics’ genomic branch, provides state-of-the-art services specialized in DNA chips, DNA or RNA target enrichment and next generation sequencing with an Illumina NextSeq500. Hybrigenics Corp., based in Cambridge, Mass., is the American subsidiary of Hybrigenics.