ARCHAMPS, France & GENEVA--(BUSINESS WIRE)--Regulatory News:
Genkyotex, (Paris:GKTX) (Brussels:GKTX) (Euronext Paris & Brussels: FR00011790542 – GKTX), a biopharmaceutical company and the leader in NOX therapies, announces that it has entrusted Kepler Cheuvreux with the implementation of a liquidity contract for its ordinary shares with effect from May 7, 2018, after the Company terminated the liquidity contract with ODDO CORPORATE FINANCE. This termination was effective after-market May 4, 2018.
Termination of the liquidity contract with Oddo Corporate Finance
Genkyotex has terminated the liquidity contract concluded with Oddo Corporate Finance, effective after-market May 4, 2018. On that date, the following assets were booked to the liquidity account:
- 73,832 Genkyotex shares;
- €47,124.12 in cash.
As a reminder, in the half-year balance sheet of December 31, 2017 the following assets were booked to the liquidity account:
- 70,270 Genkyotex shares;
- €48,799.86 in cash.
Implementation of a liquidity contract with Kepler Cheuvreux
Genkyotex has entrusted Kepler Cheuvreux with the implementation of a liquidity contract for its ordinary shares from May 7, 2018 for a period of 12 months, renewable by tacit agreement.
This new contract complies with the AMAFI (French Financial Markets Association) ethics charter.
For the implementation of this contract, the following resources have been allocated to the liquidity account:
- 73,832 Genkyotex shares;
- €47,124.12 in cash.
Genkyotex is the leading biopharmaceutical company in NOX therapies, listed on the Euronext Paris and Euronext Brussels regulated markets. A leader in NOX therapies, its unique therapeutic approach is based on a selective inhibition of NOX enzymes that amplify multiple disease processes such as fibrosis, inflammation, pain processing, cancer development, and neurodegeneration.
Genkyotex’s platform enables the identification of orally available small-molecules that selectively inhibit specific NOX enzymes. Genkyotex is developing a pipeline of first-in-class product candidates targeting one or multiple NOX enzymes. The lead product candidate, GKT831, a NOX1 and NOX4 inhibitor is evaluated in a phase II clinical trial in primary biliary cholangitis (PBC, a fibrotic orphan disease) and in an investigator-initiated Phase II clinical trial in Type 1 Diabetes and Kidney Disease (DKD). This product candidate may also be active in other fibrotic indications. Its second product candidate, GKT771, is a NOX1 inhibitor targeting multiple pathways in angiogenesis, pain processing, and inflammation, currently undergoing preclinical testing.
Genkyotex also has a versatile platform well-suited to the development of various immunotherapies (Vaxiclase). A partnership covering the use of Vaxiclase as an antigen per se (GTL003) has been established with Serum Institute of India Ltd (Serum Institute), the world’s largest producer of vaccine doses, for the development by Serum Institute of cellular multivalent combination vaccines against a variety of infectious diseases. This partnership could generate up to $57 million in future revenues for Genkyotex, before royalties on sales.
Concerning the risks associated to this specific partnership with Serum Institute, please refer to the section 4.1.7 of the registration document (“document de reference) registered by the French Markets Authority (the “AMF”) on 27 April 2018 under number R.18-037, “Risks related to development partnerships and to the marketing and sale of product candidates incorporating the Vaxiclase platform”.
For further information, please go to www.genkyotex.com.
This press release and the information it contains does not constitute an offer or solicitation to buy, sell or hold Genkyotex shares in any country, in particular any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or other qualification under the securities laws of any such jurisdiction.
This press release may contain forward-looking statements by the company with respect to its objectives. Such statements are based upon the current beliefs, estimates and expectations of Genkyotex’s management and are subject to risks and uncertainties such as the company's ability to implement its chosen strategy, customer market trends, changes in technologies and in the company's competitive environment, changes in regulations, clinical or industrial risks and all risks linked to the company's growth. These factors as well as other risks and uncertainties may prevent the company from achieving the objectives outlined in the press release and actual results may differ from those set forth in the forward-looking statements, due to various factors. Without being exhaustive, such factors include uncertainties involved in the development of Genkyotex’s products, which may not succeed, or in the delivery of Genkyotex’s products marketing authorizations by the relevant regulatory authorities and, in general, any factor that could affects Genkyotex’s capacity to commercialize the products it develops. No guarantee is given on forward-looking statements which are subject to a number of risks, notably those described in the registration document (document de reference) registered by the French Markets Authority (the AMF) 27 April 2018 under number R.18-037, and those linked to changes in economic conditions, the financial markets, or the markets on which Genkyotex is present. Genkyotex products are currently used for clinical trials only and are not otherwise available for distribution or sale.