Capitalised terms not otherwise defined in this announcement have the meanings given to them in the announcement made by the Company at
Pursuant to the Placing, Placees have agreed to subscribe for 12,500,000 New Ordinary Shares at a price of
An application has been made to Euronext Brussels for admission of the New Ordinary Shares to trading on the regulated market of Euronext Brussels ('Admission'). It is expected that Admission will take place on or around 08.00 CEST on
Following Admission, the total number of ordinary shares in issue in the Company will be 85,279,729.
We are delighted with the outcome of this successful fundraising, which has provided the funds to build and strengthen our US commercial team and execute the next steps of our commercialization strategy as we target the launches of both BARHEMSYS and BYFAVO later in 2020. We thank our current and new investors for their support and look forward to providing further updates over the coming months.'
Acacia Pharma intends to use the net proceeds of the Placing to: recruit an initial sales force of approximately 30, with an additional ten support staff; pay marketing costs relating to BARHEMSYS and BYFAVO including brand development and engagement (both virtually and, where possible, in person) with key opinion leaders, healthcare professionals, and medical conference and speaker programmes; implement post-approval research and development commitments including paediatric studies for BARHEMSYS and BYFAVO and a renal study for BARHEMSYS; satisfy interest and capital payments under existing loan agreements and general corporate purposes relating to ongoing commercial activities as well as supplementing existing stock of both BARHEMSYS and BYFAVO.
In connection with the Placing, the Company has agreed, pursuant to a lock-up undertaking, not to issue additional shares for a period of 90 days following settlement of the Placing. In addition, in connection with the Placing, directors and senior managers of the Company and
The payment and delivery of the New Ordinary Shares is expected to take place on
Contact:
Tel: +44 1223 919760
Email: IR@acaciapharma.com
About Acacia Pharma
Acacia Pharma is a hospital pharmaceutical company focused on the development and commercialization of new products aimed at improving the care of patients undergoing significant treatments such as surgery, other invasive procedures, or cancer chemotherapy. The Company has identified important and commercially attractive unmet needs in these areas that its product portfolio aims to address.
Acacia Pharma's first product, BARHEMSYS (amisulpride injection) for postoperative nausea & vomiting (PONV), has been approved by the
BYFAVO (remimazolam) for injection, a rapid onset/offset IV benzodiazepine sedative is approved in the US for use during invasive medical procedures in adults lasting 30 minutes or less, such as colonoscopy and bronchoscopy. Acacia Pharma's rights to further develop and commercialize BYFAVO are in-licensed from
APD403 (intravenous and oral amisulpride), a selective dopamine antagonist for chemotherapy induced nausea & vomiting (CINV) has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy.
Acacia Pharma is based in
Important Information
The release or distribution of this announcement may, in certain jurisdictions, be subject to restrictions. The recipients of this announcement in jurisdictions where this announcement has been published or distributed shall inform themselves of and follow such restrictions.
Any investment decision in connection with the Placing must be made on the basis of the information contained in the prospectus to be published by the Company in connection with the Placing. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purpose whatsoever on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change.
The New Ordinary Shares have not been and will not be registered under the
This announcement is an advertisement and not a prospectus for the purposes of the Prospectus Regulation and has not been approved by any regulatory authority in any jurisdiction. A copy of the prospectus will, following publication, be available from the Company on its website at www.acaciapharma.com provided that the prospectus will not, subject to certain exceptions, be available (whether through the website or otherwise) to shareholders in
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