DGAP-News: ERYTECH PHARMA SA / Key word(s): Miscellaneous
ERYTECH announces ADR Level 1 listing in the US
12.01.2015 / 09:30
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ERYTECH announces ADR Level 1 listing in the US
- ADR (American Depository Receipt) listing facilitates the
participation of US investors in non-US corporations
- Part of ERYTECH's strategy to increase visibility in the US
- ERYTECH ADRs available for trading on OTC market under symbol EYRYY
Lyon (France), January 12, 2015 - ERYTECH (Euronext Paris: FR0011471135 -
ERYP), the French biopharmaceutical company that develops innovative 'tumor
starvation' treatments for acute leukemia and other oncology indications
with unmet medical needs, today announced the launch of a sponsored
American Depository Receipt (ADR) Level 1 listing in the United States in
order to support the expansion of the Company's US investor base.
An ADR Level 1 is a negotiable US security representing ownership of
publicly traded shares in a non-US corporation. ADRs are quoted and traded
in US dollars in the US Securities market. Also, the dividends, if any, are
paid to investors in US dollars. ADRs are specifically designed to
facilitate the purchase, holding and sale of non-US securities by US
investors.
The ERYTECH ADRs will now be available for trading in the US
over-the-counter (OTC) market. The ticker symbol is EYRYY and each ERYTECH
ADR represents one ERYTECH ordinary share as traded on Euronext Paris. Bank
of New York Mellon acts as depository bank for the ADR program. ERYTECH's
ordinary shares continue to trade on Euronext Paris.
Gil Beyen, Chairman & Chief Executive Officer of ERYTECH, commented: "The
ADR program is part of our strategy to increase the company's visibility
with investors in the United States. Following two successful capital
operations in 2014, US investors have become an important part of our
shareholder base. The launch of the ADR program will offer alternative
trading options for existing and potential new US investors and will
increase the liquidity of our shares without bringing any additional direct
costs for the company."
About ERYTECH: www.erytech.com
Created in Lyon in 2004, ERYTECH is a French biopharmaceutical company
providing new prospects for cancer patients, particularly those with acute
leukemia and selected solid tumors.
By encapsulating the asparaginase enzyme in red blood cells, ERYTECH has
developed ERY-ASP/GRASPA(R*, an original treatment that targets cancer
cells through "tumor starvation" while significantly reducing the side
effects for patients. ERY-ASP/GRASPA(R) is has recently announced positive
Phase III data in Acute Lymphoblastic Leukemia (ALL) and is in Phase IIb
clinical trial in Acute Myeloid Leukemia (AML) in Europe. The product is
also in Phase I/II clinical development in ALL in the USA.
Every year about 50,000 patients are diagnosed with Acute Lymphoblastic
Leukemia (ALL) or Acute Myeloid Leukemia (AML), the two forms of acute
leukemia. Today, for about 80% of these patients, mainly adults and
relapsing patients, current forms of asparaginase cannot be used due to
their toxicity. With a presumed improved safety profile, ERY-ASP/GRASPA(R)
is being developed to allow all leukemia patients to be treated, even the
most fragile ones, representing a market opportunity of more than EUR 1
billion.
The company is also developing other indications in solid tumors and
certain orphan indications outside oncology. A Phase II study in pancreas
cancer is ongoing and the company is exploring other solid tumor
indications for ERY-ASP.
ERYTECH has obtained orphan drug designations for ERY-ASP/GRASPA(R) in ALL,
AML and pancreas cancer, both in Europe and the USA, and has its own
GMP-approved and operational manufacturing site in Lyon (France), and a
site for clinical production in Philadelphia (USA).
The company has concluded licensing and distribution partnership agreements
for ALL and AML in Europe with Orphan Europe (Recordati Group), and for ALL
with TEVA in Israel.
ERYTECH is listed on Euronext regulated market in Paris. (ISIN code:
FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharm. &
Bio and Next Biotech indexes.
*Also known as ERY-ASP. GRASPA is the intended tradename of the product for
use in ALL and AML in Europe and has been licensed to ERYTECH's commercial
partner Orphan Europe (Recordati Group). ERY-ASP is the codename used
outside Europe and in other indications.
Forward-looking information
This document may contain forward-looking statements and estimates with
respect to the financial situation, the results of operations, the
strategy, the project and to the anticipated future performance of ERYTECH
and of the market in which it operates. Certain of these statements,
forecasts and estimates can be recognized by the use of words such as,
without limitation, "believes", "anticipates", "expects", "intends",
"plans", "seeks", "estimates", "may", "will" and "continue" and similar
expressions. They include all matters that are not historical facts. Such
statements, forecasts and estimates are based on various assumptions and
assessments of known and unknown risks, uncertainties and other factors,
which were deemed reasonable when made but may or may not prove to be
correct. Actual events are difficult to predict and may depend upon factors
that are beyond the Company's control. There can be no guarantees with
respect to pipeline products that the products will receive the necessary
regulatory approvals or that they will prove to be commercially successful.
Therefore, actual results, the financial condition, performance or
achievements of ERYTECH, or industry results, may turn out to be materially
different from any future results, performance or achievements expressed or
implied by such statements, forecasts and estimates. Documents filed by
ERYTECH Pharma with the French Autorité des Marchés Financiers
(www.amf-france.org), also available on our website (www.erytech.com)
describe such risks and uncertainties. Given these uncertainties, no
representations are made as to the accuracy or fairness of such
forward-looking statements, forecasts and estimates. Furthermore,
forward-looking statements, forecasts and estimates only speak as of the
date of the publication of this document. ERYTECH disclaims any obligation
to update any such forward-looking statement. Readers are cautioned not to
place undue reliance on any of these forward-looking statements. ERYTECH
disclaims any obligation to update any such forward-looking statement,
forecast or estimates to reflect any change in the Company's expectations
with regard thereto, or any change in events, conditions or circumstances
on which any such statement, forecast or estimate is based, except to the
extent required by French law.
CONTACTS
<pre>
ERYTECH NewCap.
Gil Beyen Julien Perez / Emmanuel Huynh
Chairman & CEO Investor relations
Tel: +33 4 78 74 44 38 Nicolas Merigeau
investors@erytech.com Press relations
Tel: +33 1 44 71 98 52
erytech@newcap.fr
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DGAP-News: ERYTECH announces ADR Level 1 listing in the US
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