Oryzon Raises EUR 13 Million through a Private Placement with US and European Investors
MADRID, SPAIN and CAMBRIDGE MA.
Oryzon Genomics, S.A. (MAD: ORY) ("Oryzon" or the "Company"), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, today announced the successful pricing of a capital increase of 4,961,833 new common shares, for gross proceeds expected of approximately EUR 13 million issued at a price of EUR 2.62 per share, representing a 12% discount on the closing price of the last three trading days. The offering included institutional investors specialized in healthcare and life sciences from the United States of America and Europe. The Company intends to use the net proceeds from the capital increase to finance the Company’s research and development of clinical pipeline candidates, as well as for working capital and other general corporate purposes. The CEO and President of the Company, Carlos Buesa, and the Member of the Board of Directors, Josep María Echarri, have subscribed shares, attending the round in their personal capacity.