Brief: Erytech And Pherecydes Announce Proposed Combination Intending To Create Global Leader In Extended Phage Therapies

Phaxiam Therapeutics SA

15/02/2023 21:39

Feb 15 (Reuters) - Erytech Pharma Sa  ERYP.PA :
    * ERYTECH AND PHERECYDES  ANNOUNCE PROPOSED COMBINATION
INTENDING
TO CREATE GLOBAL LEADER IN EXTENDED PHAGE THERAPIES
    * ERYTECH PHARMA - COMBINED CO CASH RUNWAY WOULD EXTEND INTO
Q3
2024, WITH CONSOLIDATED CASH POSITION OF ABOUT €41 MILLION AS OF
DECEMBER 31, 2022
    * ERYTECH PHARMA - TRANSACTION EXPECTED TO CLOSE AT THE END
OF THE
SECOND QUARTER OF 2023
    * ERYTECH PHARMA - THIBAUT DU FAYET, CURRENTLY CEO OF
PHERECYDES,
WILL BECOME CEO OF ERYTECH
    * ERYTECH PHARMA - UPON COMPLETION OF TRANSACTION PHERECYDES
SHAREHOLDERS ARE EXPECTED TO HOLD ABOUT 49.5% OF SHARE CAPITAL
AND VOTING RIGHTS OF ERYTECH
    * MR. ERIC SOYER WILL REMAIN COO AND CFO OF ERYTECH

Source text for Eikon:  ID:nGNE808vkn 
Further company coverage:  ERYP.PA 
 ((Reuters.Briefs@thomsonreuters.com;))