Paramètres des cookies

Ce site web utilise des cookies à des fins d'optimisation et d'analyse statistique et pour afficher des annonces personnalisées. Pour plus d'informations, veuillez svp. consulter notre déclaration de confidentialité sur la protection de données personnelles.

Epigenomics AG

EANS-News: Epigenomics AG
Epigenomics AG Provides Update on Financing Plans

20.12.2012 – 13:32

--------------------------------------------------------------------------------
  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 intention to launch a capital increase
by way of a rights issue in January 2013. With the capital increase the Company
plans to generate gross proceeds of up to just under EUR 5 million and aims to
extend the cash runway of the Company at least into Q4 2013.

In line with previous announcements, and supported by the recently published
results of a comparison study of the company's lead CRC screening product Epi
proColon® to fecal immunochemical testing (FIT), Epigenomics will continue to
explore all strategic options for the Company in its further development,
especially including the option 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® in 2013.

Dr. Thomas Taapken, Chief Financial Officer and acting Chief Executive Officer
of Epigenomics, commented: "We are very thankful to our shareholders who
supported the development of the Company and its lead product Epi proColon® over
the last years. The recently announced results of the comparison study to FIT
are a major milestone for Epigenomics that enable us to move ahead with our
Premarket Approval (PMA) filing with FDA as planned before the end of 2012. The
contemplated transaction is in our view in the best interest the Company and its
shareholders at this time, as it brings the Company closer to potential FDA
approval for Epi proColon®, while alleviating the current financial situation of
the Company." 

Transaction outline: 
Epigenomics Executive Board, with the approval of the Supervisory Board, has
taken the decision to implement an increase of the issued share capital by
utilization of authorized capital. The capital increase shall be carried out by
way of a rights issue against cash contributions. It shall be structured in such
a manner that the gross proceeds generated under the capital increase will
amount to up to just under EUR 5,000,000 in order to make use of the available
exemption from the publication of a prospectus under German securities laws.

The Supervisory and Executive boards of the Company plan to resolve the details
of the capital increase in early January 2013, in particular the maximum number
of new shares and the subscription ratio, which will then be published by way of
an ad hoc announcement without undue delay. Publication of the subscription
offer and beginning and end of the subscription period will subsequently take
place in line with German market practice.

The new shares will first be offered to the shareholders of the Company. Shares
not taken up by shareholders might subsequently be offered in a private
placement to institutional investors.

Epigenomics AG intends to use the net proceeds from the offering to finance its
current operations and to build and strengthen the distribution capacities for
its products.

Recent events and outlook 
The Company recently announced results of the head-to-head comparison study
between its blood-based Epi proColon® and FIT for the detection of colorectal
cancer and remains to be on track to file the final module of the PMA submission
with the FDA before the end of this year. A subsequent decision by the FDA on
the PMA submission for Epi proColon® is expected during the second half of 2013.


- 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

Lieux dans ce communiqué
Plus de actualités: Epigenomics AG
Plus de actualités: Epigenomics AG