Scholarship

Prime Time operation in progress at Pherecydes Pharma – 21.09.2022 at 18:10


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Pherecydes Pharma is a biotechnology company specialized in precision phage therapy intended for the treatment of antibiotic-resistant and/or complicated bacterial infections, today announces the launch of a fundraising of approximately 3 million euros through the issuance of new ordinary shares intended for institutional investors and individuals (via the PrimaryBid platform ).

Pherecydes Pharma is launching a fundraising of approximately €3 million to continue its clinical development program in phage therapy

I’m participating in the operation

REASONS FOR OPERATION

The proposed offering aims to provide the Company with funding until the end of March 2023. The Company plans to use the net proceeds from this fundraising for partial financing:

1. approximately 50%, clinical development of anti-Staphylococcus aureus (S. aureus) phages including in particular: • intensification of the PhagoDAIR phase II study in France and Europe with the opening of new clinical centers in the Netherlands, up to the primary endpoint evaluation phase; • preparation and initiation of the second phase II study in a clinical indication with high medical stakes; • initiation and management of studies (PHRC), whose company is not the promoter (PhagoPied, Phagos) through the production of phagograms and various related costs;

2. approximately 30%, the development of anti-Pseudomonas aeruginosa phages including in particular: • initiation of a regulatory toxicology study; • preparation and launch of a clinical study (phase II) in indications related to respiratory infections with high health stakes;

3. approximately 10%, development of production and quality control processes, production of GMP series of E. Coli phage, completion of preclinical development;

4. up to approximately 10%, research work related to the identification of a new bacterial target and other overhead costs of the company.

WORKING CONDITIONS

The transaction will be executed in two separate but simultaneous parts:

The offer will be made in three separate but simultaneous parts:

– offer by issuing new ordinary shares with the cancellation of the right of pre-emption of the Company’s shareholders in favor of the mentioned categories of investors (in accordance with the 18th decision of the shareholders’ assembly dated 19.05.2022 “), based on Article L. 225-138 of the French Commercial Code (“Reserved offer “), the reserved offer refers only to the categories of investors defined by the Assembly as follows:

• one or more investment companies or French or foreign investment funds (i) that have primarily invested or have invested more than 2 million euros during the 24 months preceding the capital increase in question, in the natural sciences and technologies sector, and (ii) investing for the subscription amount of shares exceeding €100,000 (issue premium included); and or

• one or more of the Company’s strategic partners, located in France or abroad, who have concluded or must conclude one or more commercial partnership agreements (development, joint development, distribution, production, etc.) with the Company (or a subsidiary) and/ or to one or more companies controlled by these partners, controlled by these partners or controlled by the same person(s) as these partners, directly or indirectly, within the meaning of article L. 233-3 of the Commercial Code;

• any person, including suppliers or bondholders of the Company, who holds a definite, liquid and due claim against the Company;

• all managers, directors and/or executive employees of the Company who want to simultaneously invest in users who are targeted from the above categories. – offer by issuing new ordinary shares with the cancellation of the right of pre-emptive registration of the Company’s shareholders, in favor of qualified investors or a limited circle of investors, based on Article L. 411-2, 1° of the Monetary and Financial Code (in accordance with the 17th resolution of the meeting), based on of article L. 225-136 of the Commercial Code (“Private Placement”, together with the reserved offer, “Global Placement”); and –

– a public offer without a specific beneficiary, through new ordinary shares with the cancellation of the right of preferential subscription of the Company’s shareholders, intended for natural persons of French nationality or citizens of member states of the European Economic Area, through the PrimaryBid platform, which will be carried out according to the distribution proportional to the requirements within the limits of the intended amount to this offer to the public, with a reduction in allocation in case of excess requests if necessary, based on Article L. 225-136. of the French Commercial Code and Article L. 411-2-1, 1° of the Monetary and Financial Code (in accordance with the 16th resolution of the meeting) (the “Primary Offer”, and, together with Plasman Global, the “Offer”).

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