PHARNEXT Announces Reclassification Of Its Historical Investor’s Shares, Strengthening The Position Of Core Shareholders
PARIS--(BUSINESS WIRE)--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).
For more information, please visit www.pharnext.com