Pharnext strengthens the position of core shareholders

Pharnext announces reclassification of its historical investor’s shares,
strengthening the position of core shareholders

 

PARIS, France, 5.45pm, 29 March, 2017 (CEST) – Pharnext SA (FR00111911287 - ALPHA), a French biopharmaceutical company developing an advanced portfolio of products in the field of neurodegenerative diseases, was informed of a reclassification of its historical investor’s shares.

2,143,736 shares held by Truffle Capital, co-founder of Pharnext, and representing 19.9% ownership of the company, have just been reclassified to existing shareholders including two core shareholders: Pierre Bastid (+600,000 shares) and Claude Berda (+1,243,736 shares). Truffle Capital states that the funds selling the shares are mutual investment funds that have reached maturity and therefore had a regulatory obligation to exit from their investments and, that other recent funds invested in Pharnext’s Initial Public Offering in July 2016.

 

The initial lock-up commitments relating to the shares have been assumed in full by their new owners.

 

After such reclassification, new ownership of Pharnext's shares and voting rights are as follows:

 

	Shares	%	Voting rights	%
Founders and employees	1,318,084	12.2%	2,617,684	17.8%
Pierre Bastid (Zaka)	2,542,301	23.6%	3,267,901	22.3%
Claude Berda (CBLux)	1,632,688	15.1%	1,632,688	11.1%
Truffle Capital	1,119,410	10.4%	1,419,010	9.7%
Industrials (Galapagos, Ipsen, Mérieux, Dassault)	694,021	6.4%	856,621	5.8%
Public (institutionnals and individuals)	3,486,111	32.3%	4,891,511	33.3%
TOTAL	10,792,615		14,685,415

 

About Pharnext

Pharnext is an advanced clinical-stage biopharmaceutical company founded by renowned scientists and entrepreneurs including Professor Daniel Cohen, a pioneer in modern genomics: Pharnext focuses on neurodegenerative diseases and has two lead products in clinical development: PXT3003 is currently in an international Phase 3 trial for the treatment of Charcot-Marie-Tooth disease type 1A and benefits from orphan drug status in Europe and the United States. PXT864 has generated positive Phase 2 results in Alzheimer’s disease. Pharnext is the pioneer of a new drug discovery paradigm: PLEOTHERAPY™. The company identifies and develops synergic combinations of repositioned drugs at low dose. These PLEODRUG™ offer several key advantages: efficacy, safety and intellectual property including several compositions of matter patents already granted. The Company is supported by a world-class scientific team.

The company Pharnext is listed on Euronext Alternext Stock Exchange in Paris (ISIN code: FR00111911287).

 

For more information, please visit www.pharnext.com

 

CONTACTS:

 

Pharnext Pierre Schwich Chief Financial Officer investors@pharnext.com +33 (0)1 41 09 22 30
Investor Relations (Europe) MC Services AG Anne Hennecke anne.hennecke@mc-services.eu +49 211 529252 22	Investor Relations (U.S.) Stern Investor Relations, Inc. Sarah McCabe sarah@sternir.com +1 212-362-1200	Investor Relations (France) NewCap Julie Coulot pharnext@newcap.eu  +33 (0)1 44 71 20 40
Media Relations (Europe) ALIZE RP Caroline Carmagnol Margaux Pronost pharnext@alizerp.com  +33 (0)1 44 54 36 64	Media Relations (U.S.) Russo Partners Tony Russo, Ph.D. Victoria Meissner, M.D. tony.russo@russopartnersllc.com victoria.meissner@russopartnersllc.com  +1 212-845-4251 +1 646-942-5627