This announcement does not constitute an offer to sell, or an invitation to offer or buy or subscribe for, securities. An investment in the offered shares involves substantial risks and uncertainties. Prospective investors will need to base their investment decision on the prospectus and particularly, the risk factors, as will be described in the prospectus that the company expects to publish after the approval of the prospectus by the FSMA, and which can then be obtained at the offices of Hyloris and on www.hyloris.com. Prospective investors must be able to bear the economic risk of an investment in the offered shares and should be able to sustain a partial or total loss of their investment.
ADVERTISEMENT
Hyloris Pharmaceuticals Announces Intention to Launch an Initial Public Offering on
Euronext Brussels
Liège, Belgium – June 3, 2020: Hyloris Pharmaceuticals SA (“Hyloris”, the “Company”), an early-stage innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals, announces today its intention to raise new funds through an Initial Public Offering (“IPO”) with admission of its shares to trading on the regulated market of Euronext Brussels (the "Offering").
Company Highlights:
- Focused on developing proprietary reformulated products it believes offer significant advantages compared to currently available alternatives, with the aim to address underserved medical needs and add value to the overall healthcare system
- Idea generator enabling the continuous identification of new product opportunities
- Strong product development engine that reformulates and brings product candidates to the market in a capital efficient manner, with a clear focus on the FDA’s 505(b)(2) regulatory pathway for pharmaceuticals where safety and efficacy of the molecule have been established, providing Hyloris with the potential to:
- Reduce the clinical burden required to bring a product to the market
- Significantly shorten the development timelines and reduce costs and risks
- Diversified portfolio of two early stage commercial products and 12 product candidates in various stages of development, offering sales growth potential:
- The product portfolio has a particular focus on IV cardiovascular products, but also contains other reformulation products and established market products (high-barrier generics)
- Maxigesic® IV and Sotalol IV are anticipated as primary drivers of short-term revenue growth until additional products are launched
- To date, Hyloris’ operations have consisted primarily of the identification of product candidates to build its pipeline and the formulation, testing and development of its existing portfolio.
- Led by an experienced management team that has a wealth of experience and knowledge in the fields of drug identification and development. Hyloris’ management team combines more than 100 years of experience in managing and growing pharma companies that develop drugs and bring them to the market
Stijn Van Rompay, Chief Executive Officer and co-founder of Hyloris, commented: “Hyloris’ goal is to bring reformulated drugs with added value to the healthcare system as quickly as possible and we are excited to announce our intention to float on Euronext Brussels to support us in achieving this. We believe that there are significant opportunities to address unmet needs, utilizing the established 505(b)(2) pathway, by developing proprietary products that can offer significant advantages compared to currently available alternatives. Our team has extensive expertise and experience in the pharmaceutical industry, and we believe we are distinctly placed to select and develop the right product candidates to deliver significant value to patients, physicians, payors and other stakeholders in the healthcare system.”
“The IPO is expected to provide us with the resources needed to finance the development of our existing portfolio of product candidates, as well as establish a commercial infrastructure in the United States for our IV Cardiovascular portfolio (excl. Sotalol IV, which is commercialized through a partner), where we will focus on addressing prescribers in a cost-efficient manner by concentrating on specialized care facilities such as hospitals. The IPO is also expected to support us in further expanding our portfolio in the years to come.”
Stefan Yee, Chairman of Hyloris, added: “Going public will be an important step forward in Hyloris’ journey, as we seek to drive the development, commercialization and expansion of our strong pipeline. As a Belgian company, a listing on Euronext Brussels is a good strategic fit for Hyloris, providing us with an excellent financial ecosystem to broaden our shareholder base and lay solid foundations for future growth.”
Hyloris intends to use the net proceeds of the Offering to fund:
- The development of the existing portfolio of product candidates
- The establishment of a commercial team in the U.S. for Hyloris’ IV Cardiovascular Portfolio (excl. Sotalol IV, which is commercialized through a partner)
- The expansion of its product pipeline both internally and through business development opportunities
- General corporate purposes
The Offering
Subject to the approval of the prospectus by the Belgian Financial Services and Markets Authority ("FSMA") and market conditions, it is expected that the price range, as well as other details of the Offering will be published when the Offering period is expected to commence. After its approval, which approval should not be understood as an endorsement of the securities offered by the FSMA, the prospectus is expected to be made available at the Company's registered office and on the websites of Hyloris Pharmaceuticals (www.hyloris.com) and KBC Securities NV/SA (www.kbc.be/hyloris, www.bolero.be/nl/hyloris and www.kbcsecurities.com).
The Offering is expected to consist of: (i) an offer to the public (as defined in Article 2(d) of the Prospectus Regulation) in Belgium; (ii) a private placement in the European Economic Area (other than Belgium) exclusively to “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation; (iii) a private placement in Switzerland exclusively to “qualified investors” within the meaning of the Collective Investment Schemes Act (CISA); and (iv) a private placement in the United States to persons who are reasonably believed to be “QIBs” (as defined in Rule 144A under the U.S. Securities Act), in reliance on Rule 144A. All aforementioned “qualified investors” and QIBs are collectively being referred to as Institutional Investors. The Offering outside the United States will be made in compliance with Regulation S under the U.S. Securities Act.
KBC Securities and Kempen & Co are acting as Joint Global Coordinators and Joint Bookrunners.
-Ends-
For more information, please contact:
Hyloris Pharmaceuticals
Stijn Van Rompay, CEO
Patrick Jeanmart, CFO
+32 (0)4 346 02 07
contact@hyloris.com
Consilium Strategic Communications
Amber Fennell, Chris Welsh, Lucy Featherstone, Taiana De Ruyck Soares
+44 20 3709 5700
hyloris@consilium-comms.com
Note to Editors
About Hyloris Pharmaceuticals SA
Based in Liège, Belgium, Hyloris is an early-stage innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals. Hyloris develops proprietary products it believes offer significant advantages compared to currently available alternatives, with the aim to address the underserved medical needs of patients, hospitals, physicians, payors and other stakeholders in the healthcare system. Hyloris’ portfolio spans three areas of focus: IV Cardiovascular, Other Reformulations and Established Market (high-barrier generics). Hyloris currently has two early commercial-stage products, Sotalol IV for the treatment of atrial fibrillation, commercialised through its partner AltaThera, and Maxigesic® IV, a non-opioid analgesic product for the treatment of pain, developed with the Company’s partner, AFT Pharmaceuticals. Additionally, Hyloris has 12 product candidates in various stages of development across the Company’s wider portfolio. Read more at www.hyloris.com.
IMPORTANT INFORMATION
The material set forth herein is for informational purposes only and does not constitute an offer of securities for sale or a solicitation of any offer to buy securities in the United States, Australia, Canada, Switzerland, Japan or South Africa or any other jurisdiction in which such an offer or solicitation is unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state in the United States, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. No public offering of securities has been or will be made in the United States. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Switzerland, Japan or South Africa, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Switzerland, Japan or South Africa. Copies of this material are not being, and should not be, distributed or sent, directly or indirectly, into the United States, Australia, Canada, Switzerland, Japan or South Africa.
This information does not contain a solicitation for money, securities or other consideration and, if sent in response to the information contained herein, will not be accepted. This announcement contains statements which are "forward-looking statements" or could be considered as such. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believe', 'estimate', 'anticipate', 'expect', 'intend', 'may', 'will', 'plan', 'continue', 'ongoing', 'possible', 'predict', 'plans', 'target', 'seek', 'would' or 'should', and contain statements made by the company regarding the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are warned that none of these forward-looking statements offers any guarantee of future performance. The company's actual results may differ materially from those predicted by the forward-looking statements. The company makes no undertaking whatsoever to publish updates or adjustments to these forward-looking statements, unless required to do so by law.
Any purchase of, subscription for or application for, shares in the Company to be issued in connection with the Offering should only be made on the basis of information contained in the Prospectus to be issued by the Company, and published on the Company’s website (www.hyloris.com) in due course in connection with the Offering and any supplements thereto, as the case may be. Potential investors must read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities. This document is not a Prospectus. The Prospectus will contain detailed information about the Company and its management, risks associated with investing in the Company, as well as financial statements and other financial data.
The date of completion of listing on the regulated market of Euronext Brussels may be influenced by things such as market conditions. There is no guarantee that such listing will occur and a potential investor should not base your financial decisions on the Company's intentions in relation to such listing at this stage. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing the entire amount invested. Persons considering such investments should consult an authorized person specializing in advising on such investments. This announcement does not constitute a recommendation concerning the Offering. An investment in shares entails significant risks, as the value of the shares can decrease as well as increase.
This announcement is only addressed to and directed at persons in member states of the European Economic Area ("EEA") other than Belgium who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation. In addition, in the United Kingdom, this announcement is only addressed to and directed at (i) persons having professional experience in matters relating to investments falling within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) high net worth entities, etc. falling within Article 49(2)(a) to (d) of the Order, and (iii) any other person to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). The intended offering, as the case may be, will only be available to, and any invitation, offer or agreement to subscribe for, purchase, or otherwise acquire securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.
KBC Securities NV/SA and Van Lanschot Kempen Wealth Management N.V. (the "Joint Bookrunners") are acting for the Company and no one else in relation to the intended offering, and will not be responsible to anyone other than the Company for providing the protections offered to their respective clients nor for providing advice in relation to the intended offering.