Pharnext Announces Reclassification of Its Historical Investor’s Shares, Strengthening the Position of Core Shareholders
Pharnext SA (Paris:ALPHA) (FR00111911287 - ALPHA), a French biopharmaceutical company developing an advanced portfolio of products in the field of neurodegenerative diseases, was informed of a reclassification of its historical investor’s shares.
2,143,736 shares held by Truffle Capital, co-founder of Pharnext, and representing 19.9% ownership of the company, have just been reclassified to existing shareholders including two core shareholders: Pierre Bastid (+600,000 shares) and Claude Berda (+1,243,736 shares). Truffle Capital states that the funds selling the shares are mutual investment funds that have reached maturity and therefore had a regulatory obligation to exit from their investments and, that other recent funds invested in Pharnext’s Initial Public Offering in July 2016.
The initial lock-up commitments relating to the shares have been assumed in full by their new owners.
After such reclassification, new ownership of Pharnext's shares and voting rights are as follows:
|Founders and employees||1,318,084||12.2%||2,617,684||17.8%|
|Pierre Bastid (Zaka)||2,542,301||23.6%||3,267,901||22.3%|
|Claude Berda (CBLux)||1,632,688||15.1%||1,632,688||11.1%|
Industrials (Galapagos, Ipsen, Mérieux,
|Public (institutionnals and individuals)||3,486,111||32.3%||4,891,511||33.3%|
Pharnext is an advanced clinical-stage biopharmaceutical company founded by renowned scientists and entrepreneurs including Professor Daniel Cohen, a pioneer in modern genomics: Pharnext focuses on neurodegenerative diseases and has two lead products in clinical development: PXT3003 is currently in an international Phase 3 trial 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 positive Phase 2 results in Alzheimer’s disease. Pharnext is the pioneer of a new drug discovery paradigm: PLEOTHERAPY™. The company identifies and develops synergic combinations of repositioned drugs at low dose. These PLEODRUG™ offer several key advantages: efficacy, safety and intellectual property including several compositions of matter patents already granted. The Company is supported by a world-class scientific team.
The company Pharnext is listed on Euronext Alternext Stock Exchange in Paris (ISIN code: FR00111911287).
For more information, please visit www.pharnext.com
Pierre Schwich, +33 (0)1 41 09 22 30
Chief Financial Officer
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MC Services AG
Anne Hennecke, +49 211 529252 22
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Caroline Carmagnol / Margaux Pronost
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Investor Relations (U.S.)
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