Brief: Pharnext announces strategic partnership with Tasly

Pharnext SCA

10/05/2017 05:47

May 10 (Reuters) - PHARNEXT SAS  PHARN.PA : 
    * PHARNEXT ANNOUNCES STRATEGIC PARTNERSHIP WITH TASLY, A 
LEADING CHINESE PHARMACEUTICAL GROUP 
    * PHARNEXT HAS REQUESTED EURONEXT TO RESUME TRADING ON ITS 
STOCK EXCHANGE EFFECTIVE AS OF EURONEXT PARIS MARKET OPENING ON 
WEDNESDAY MAY 10(TH), 2017 AT 9:00AM CEST 
    * AGREEMENT INCLUDES AN INVESTMENT OF EUR 20 MILLION BY 
TASLY IN PHARNEXT AT A SUBSTANTIAL PREMIUM OVER CURRENT STOCK 
PRICE 
    * INVESTMENT INCLUDES EUR 5 MILLION IN SHARES AT A PRICE OF 
EUR 12.5 PER SHARE AND EUR 15 MILLION IN CONVERTIBLE BONDS WITH 
A CONVERSION PRICE OF EUR 13 PER SHARE 
    * AGREEMENT INCLUDES CREATION OF A RESEARCH AND DEVELOPMENT 
JOINT-VENTURE (JV), OWNED 30% BY PHARNEXT, TO DEVELOP NEW 
COMBINATIONS OF MOLECULES 
    * AGREEMENT INCLUDES A LICENSING AGREEMENT FOR DEVELOPMENT 
AND COMMERCIALIZATION BY JV OF DRUG CANDIDATE PXT3003 FOR 
CHARCOT-MARIE-TOOTH TYPE 1A DISEASE ON CHINESE MARKET 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nBw33LHWNa 
Further company coverage:  PHARN.PA  
 
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