This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
Under the terms of the amendment, the €10 million loan facility that was made available on the approval of BARHEMSYS® is terminated and replaced with a €10 million equity investment at a price of €3.112 per share, which represents an approximately 4.1% premium to the closing share price on
Alessandro Della Chà, CEO of Cosmo, said ““We strongly believe that Acacia Pharma has the potential of becoming a leading player in its field. In order to do so the company must be well financed. By moving from debt to equity we contribute towards the strengthening of Acacia Pharma’s financial structure and will now have an equity stake of 18.5% in the company.”
Application will be made to Euronext Brussels for the admission of 3,581,662 Ordinary Shares of £0.02 each (the “New Ordinary Shares”) to begin trading on Euronext Brussels ("Admission”). The New Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares in issue. Admission to listing is expected on
Following issue of the New Ordinary Shares, the Company's total issued share capital will consist of 67,855,918 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in
Contacts
+44 1223 919760 / +1 317 505 1280 / +44 1223 919765
IR@acaciapharma.com
+44 20 7638 9571
acaciapharma@citigatedewerogerson.com
About Acacia Pharma
Acacia Pharma is a commercial stage biopharmaceutical company focused on developing and commercializing novel products to improve the care of patients undergoing serious medical treatments such as surgery, invasive procedures, or chemotherapy. The Company has identified important and commercially attractive unmet needs in these areas that its product pipeline aims to address.
Acacia Pharma's lead product, BARHEMSYS® (intravenous amisulpride) is approved in the US for the treatment and prophylaxis of postoperative nausea & vomiting (PONV), with US launch planned for H2 2020.
BYFAVO™ (intravenous remimazolam), an ultra-short-acting and reversible sedative/anesthetic for use during invasive medical procedures, such as colonoscopy and bronchoscopy, is in-licensed from Cosmo Pharmaceuticals for the US market. The NDA for BYFAVO has been filed with the
APD403 (intravenous and oral amisulpride), a selective dopamine antagonist for chemotherapy induced nausea & vomiting (CINV) has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy.
Acacia Pharma is based in
www.acaciapharma.com
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