EANS-News: Epigenomics AG
Epigenomics AG Successfully Completes Capital
Increase
25.01.2013 – 17:02
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Subtitle: Not for distribution in the United States Restructuring & Recapitalisations/molecular diagnostics Berlin, Germany, and Seattle, WA, U.S.A. (euro adhoc) - Epigenomics AG (Frankfurt Prime Standard: ECX), the German-American cancer molecular diagnostics company, today announced the successful completion of a capital increase by way of a rights issue and a subsequent private placement. Gross proceeds amount to EUR 4,976,099, extending, based upon current projections, the cash runway of the Company at least into Q4 2013. In line with previous announcements, and supported by the recent submission of its Premarket Approval (PMA) to the United States Food & Drug Administration (FDA) for its blood-based Epi proColon® test for the detection of colorectal cancer in December 2012, Epigenomics will continue to explore all strategic options for the Company. These options especially include the possibility of securing additional financial resources to support the Company's operations up to and beyond a potential U.S. Food and Drug Administration (FDA) approval for Epi proColon®. Dr. Thomas Taapken, Chief Financial Officer and acting Chief Executive Officer of Epigenomics, commented: "We are pleased about the outcome of this financing and thank all of our shareholders and new investors who participated in the capital increase. The completion of the PMA submission to the FDA by year end 2012 and the proceeds of this financing bring the Company closer to potential FDA approval for Epi proColon®, while alleviating our financial situation." Transaction outline: On January 25, 2013, the Executive Board of Epigenomics AG, Berlin, Germany (Frankfurt Prime Standard: ECX; ISIN: DE000A1K0516), with the approval of the Supervisory Board, has taken the decision to implement the capital increase from authorized capital, the details of which were announced on January 7, 2013, for the maximum number of 3,149,430 new ordinary bearer shares, generating gross proceeds of EUR 4,976,099. 2,811,707 new ordinary bearer shares were taken up by the shareholders at a subscription price of EUR 1.58 per new share during the subscription period which started on January 11, 2013 and ended on January 24, 2013. The remaining 337,723 unsubscribed new shares were sold at the subscription price of EUR 1.58 per new share in a private placement to institutional investors. The private placement was significantly oversubscribed, enabling Epigenomics AG to place the maximum number of new shares. The capital increase was conducted by Kempen & Co. The registration of the implementation of the capital increase with the commercial register ("Handelsregister") and the admission of the new shares to the regulated market ("regulierter Markt"), Prime Standard, of the Frankfurt Stock Exchange are expected on or around January 29, 2013. Trading in the new shares is expected to begin on January 30, 2013, and delivery of the new shares to the investors is expected on January 31, 2013. With the registration of the implementation of the capital increase the total issued share capital of Epigenomics increases from EUR 8,818,417.00 to EUR 11,967,847.00. Epigenomics AG intends to use the net proceeds from the share capital increase to finance its current operations. - Ends - Contact Epigenomics AG Antje Zeise Manager IR | PR Epigenomics AG Tel +49 (0) 30 24345 368 ir@epigenomics.com www.epigenomics.com About Epigenomics Epigenomics (www.epigenomics.com) is a molecular diagnostics company developing and commercializing a pipeline of proprietary products for cancer. The Company's products enable doctors to diagnose cancer earlier and more accurately, leading to improved outcomes for patients. Epigenomics' lead product, Epi proColon®, is a blood-based test for the early detection of colorectal cancer, which is currently marketed in Europe and is in development for the U.S.A. The Company's technology and products have been validated through multiple partnerships with leading global diagnostic companies including Abbott, QIAGEN, Sysmex, and Quest Diagnostics. Epigenomics is an international company with operations in Europe and the U.S.A. Epigenomics legal disclaimer This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. The information contained in this communication does not constitute nor imply an offer to sell or transfer any product, and no product based on this technology is currently available for sale by Epigenomics in the United States or Canada. The analytical and clinical performance characteristics of any Epigenomics product based on this technology which may be sold at some future time in the U.S. have not been established. Further inquiry note: Antje Zeise | CIRO Manager IR/PR Epigenomics AG Tel: +49 30 24345 386 end of announcement euro adhoc -------------------------------------------------------------------------------- company: Epigenomics AG Kleine Präsidentenstraße 1 D-10178 Berlin phone: +49 30 24345-0 FAX: +49 30 24345-555 mail: ir@epigenomics.com WWW: http://www.epigenomics.com sector: Biotechnology ISIN: DE000A1K0516 indexes: Prime All Share, Technology All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English