RCS - Polyphor AG - Polyphor closes merger with EnBiotix
30/12/2021 08:00
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RNS Number : 0365X Polyphor AG 30 December 2021
Polyphor AG / Key word(s): Merger
Polyphor closes merger with EnBiotix and is renamed Spexis
30-Dec-2021
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland, December 30, 2021
Polyphor closes merger with EnBiotix and is renamed Spexis
Polyphor AG (SIX: POLN) and EnBiotix Inc. today announced the closing of the
merger of the two companies and the change of name of the combined company to
Spexis AG. Pursuant to completion of the capital increase approved at the
extraordinary general meeting of shareholders convened on October 28, 2021,
Polyphor and EnBiotix, a privately held late clinical-stage rare disease
company focused on products for rare, chronic respiratory diseases, have
merged, via a transaction whereby Polyphor acquired 99.6% (with the remaining
0.4% expected to follow shortly) of the outstanding capital stock of EnBiotix
in exchange for 35'150'961 shares of Polyphor common stock. The acquired
capital stock of EnBiotix also includes shares issued by EnBiotix via the full
conversion of the USD 11 million convertible debenture financing which was
communicated on December 29, 2021.
Starting January 3, 2022, all 46'375'777 Spexis AG shares recorded in the
commercial registry will be listed under the ticker symbol SPEX on the SIX
Swiss Exchange under the International Reporting Standard and include all
former Polyphor AG shares, which remain listed under the unchanged ISIN number
(CH0106213793).
As resolved on October 28, 2021, by the Shareholders' Meeting, Jeffrey Wager
is replacing Kuno Sommer as chairman. Kuno Sommer and Bernard Bollag remain
Board members. Dennis Ausiello has been elected vice-chair, Dan Hartman and
Robert Clarke have also joined the Board thereby replacing Andreas Wallnöfer,
Hugh O'Dowd, and Silvio Inderbitzin. The Executive Committee is led by Jeffrey
Wager with Stephan Wehselau, Hernan Levett and Juergen Froehlich, thereby
replacing Gökhan Batur, Franziska Müller, Daniel Obrecht and Frank Weber.
"We are pleased with the successful closing of the business combination and
welcome the shareholders of EnBiotix and Polyphor to Spexis", said Jeffrey D.
Wager, M.D., Chairman and Chief Executive Officer of Spexis. "We believe
Spexis will pursue a unique strategy as a rare disease and oncology company.
As such, we very much look forward to advancing an innovative R & D
pipeline and to engaging in unique strategic corporate development to create
long-term shareholder value."
The initial pipeline of Spexis includes:
- ColiFin(R) which EnBiotix has in-licensed from PARI Pharma GmbH, a global
leader in nebulized therapies, for worldwide rights ex-Europe. Approved in
Europe since 2010 as a front-line therapy for lung infections in cystic
fibrosis ("CF"), ColiFin(R) has a proven safety, efficacy and commercial track
record which the company aims to leverage towards the U.S. and global markets
- and both within and outside the field of CF.
- Inhaled murepavadin, a novel class inhaled antibiotic specifically targeting
Pseudomonas aeruginosa ("PA"), is being developed for the treatment of these
infections in people with CF and is beginning Phase I development using
eFlow(R) Technology nebulizer (PARI Pharma GmbH).
- EBX-002, a combination of amikacin (AMK) and a potentiator molecule for NTM
infections which preclinical studies to date have shown potential for superior
activity compared to ARYKACE(R).
- Balixafortide, a potent and highly selective blocker of CXCR4. Following the
closure of its Phase 3 program in advanced breast cancer, additional oncology
and non-oncology indications for balixafortide will be evaluated both alone
and in collaboration with Fosun Pharma who owns China rights.
- New CXCR4 inhibitor program focused on orphan, hematological malignancies.
- Preclinical OMPTA BamA and LptA programs funded by CARBX targeting WHO
Priority 1 bacterial infections planned to be developed for hospital acquired
bacterial infections.
- Company aims to in-license or acquire other rare disease and oncology assets
that will consolidate its position in these therapeutic areas.
For further information please contact:
For Investors: For Media:
Hernan Levett
Dr. Stephan Feldhaus
Chief Financial Officer
Feldhaus & Partner
Spexis AG.
+41 79 865 92 56
+41 61 567 16 00
feldhaus@feldhaus-partner.ch (mailto:feldhaus@feldhaus-partner.ch)
IR@polyphor.com (mailto:IR@polyphor.com)
About Spexis
Spexis is a research-driven clinical-stage biopharmaceutical company based in
Allschwil, Switzerland with a strategic focus on rare diseases and oncology.
The portfolio and pipeline of the company going forward will be a combination
of the two legacy companies, Polyphor and EnBiotix, and Polyphor has been
renamed to Spexis AG and is expected to begin trading under a new ticker
symbol on the SIX Swiss Exchange as from January 3, 2022.
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of the Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
End of ad hoc announcement
About Spexis
Spexis is a research-driven clinical-stage biopharmaceutical company based in
Allschwil, Switzerland with a strategic focus on rare diseases and oncology.
The portfolio and pipeline of the company going forward will be a combination
of the two legacy companies, Polyphor and EnBiotix, and Polyphor has been
renamed to Spexis AG and is expected to begin trading under a new ticker
symbol on the SIX Swiss Exchange as from January 3, 2022.
Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of the Spexis management. Known and unknown
risks, uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual development,
in particular Spexis' results, financial situation, and performance. Readers
are cautioned not to put undue reliance on forward-looking statements, which
speak only of the date of this communication. Spexis disclaims any intention
or obligation to update and revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
End of ad hoc announcement
Language: English
Company: Polyphor AG
Hegenheimermattweg 125
4123 Allschwil
Switzerland
Phone: +41 61 567 1600
Fax: +41 61 567 1601
E-mail: info@polyphor.com
Internet: www.polyphor.com
ISIN: CH0106213793
Valor: POLN
Listed: SIX Swiss Exchange
EQS News ID: 1263314
End of Announcement EQS News Service
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