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Pharnext Announces Reclassification of Its Historical Investor’s Shares, Strengthening the Position of Core Shareholders

Regulatory News:

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:

  Shares   %   Voting rights   %
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%
Truffle Capital   1,119,410   10.4%   1,419,010   9.7%

Industrials (Galapagos, Ipsen, Mérieux,

  694,021   6.4%   856,621   5.8%
Public (institutionnals and individuals)   3,486,111   32.3%   4,891,511   33.3%
TOTAL   10,792,615       14,685,415    

About Pharnext

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).

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