BRUSSELS--(BUSINESS WIRE)--Regulatory News:
ASIT biotech (Euronext: ASIT - BE0974289218) (Paris:ASIT) (BSE:ASIT), a Belgian biopharmaceutical company specialized in allergy immunotherapy, today announces that it has raised a second €2.1 million tranche in connection with the private placement approved by the Shareholders’ Meeting on 7 December 2017. As result of a strong demand, the second tranche was oversubscribed by 55%.
Overall, ASIT biotech has raised €13.9 million through this capital increase, consisting of:
- €9.4 million from the first tranche through the issue of 2,456,444 new shares (see press release of 25 January 2018);
- €2.1 million from the second tranche through the issue of 543,556 new shares;
- €2.4 million through the early exercise of 626,146 warrants attached to the new shares, i.e. 21% of the 3,000,000 shares reserved for this purpose.
Each of the 543,556 new shares issued in connection with the second tranche at a price of €3.83 per share carries two warrants entitling their holder to subscribe for two new shares at a price of €3.83 per share. The first warrants are exercisable until 30 June 2018, and the second until 31 December 2019, provided that the first warrant has been previously exercised. These warrants are not transferable.
Should the remaining warrants be exercised, the Company’s cash position would increase by an additional €20.6 million. These additional funds would provide long-term support for the development of ASIT biotech’s drug candidates.
Thierry Legon, CEO of ASIT biotech, commented: “The completion of the second tranche of our private placement approved by our Shareholders’ Meeting on 7 December 2017, one month only after the successful first tranche, demonstrates the keen interest from investors in our company. We are delighted with their strong show of confidence and remain fully focused on developing our different drug candidates for respiratory allergies and food allergies, for which there are currently no suitable and well-tolerated therapeutic solutions available.”
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, ASIT biotech is currently the only developer of AIT product candidates consisting of carefully size selected and qualified natural peptides extracted from highly purified original allergen. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech’s product pipeline entails two novel ASIT+™ product candidates targeting respiratory allergy with the highest prevalence (i.e. grass pollen: gp-ASIT+™ and house dust mite: hdm-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.
ASIT biotech has a headcount of 22 staff members, at its headquarters in Brussels and a laboratory in Liège, Belgium.
Further information can be found at www.asitbiotech.com.
All statements in this announcement that do not relate to historical facts and events are “forward-looking statements”. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will,” “plans,” “continue,” “ongoing,” “potential,” “predict,” “project,” “target,” “seek” or “should” or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. Forward-looking statements include statements regarding the Company’s intentions, beliefs or current expectations. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. Any forward-looking statements are made only as of the date of this announcement and, without prejudice to the Company’s obligations under applicable law in relation to disclosure and ongoing information, the Company does not intend, and does not assume any obligation, to update the forward-looking statements set forth in this announcement.
This announcement does not constitute, or form part of, an offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for shares of ASIT biotech SA (the “Company” and the “Shares”). 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. This announcement does not constitute a prospectus and the information contained herein is for information purposes only and does not purport to be full or complete. Investors should not subscribe for any Shares except on the basis of the information contained in the prospectus that the Company expects to publish after its approval by the Belgian Financial Services and Markets Authority, and which can then be obtained at the Company’s registered office and on www.asitbiotech.com.
This announcement is not for distribution, directly or indirectly, in or into the United States or to any U.S. person within the meaning of the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares have not been and will not be registered under the Securities Act and may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act. The Company has not registered, and does not intend to register, any portion of the intended offering of Shares in the United States, and does not intend to conduct a public offering of Shares in the United States.
This announcement and the information contained herein are not for publication, distribution or release in or into the United States, Australia, Canada, Japan or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
The Company is responsible for the information contained in this press release.