ERYTECH and PHERECYDES announce merger and name change to PHAXIAM
Therapeutics
ERYTECH and PHERECYDES announce
merger and name change to PHAXIAM
Therapeutics
- Merger
approved with large majority by the shareholders of both
companies
- New
governance structure implemented
- Ambition
to create a global leader in extended phage therapies to target
antimicrobial resistant pathogenic bacteria
Lyon (France) and Cambridge (MA, US),
June 26, 2023 – ERYTECH (Nasdaq
& Euronext: ERYP) and PHERECYDES announce merger and name
change to PHAXIAM Therapeutics, a clinical-stage biopharmaceutical
company developing innovative extended bacteriophage therapies to
target antimicrobial resistance (AMR).
“In February this year, we announced our
strategic plans with PHERECYDES, with the intent to build a global
leader in phage therapy and address the huge medical need caused by
antimicrobial resistance. I am very pleased that this merger has
now been approved with a large majority by our shareholders”,
said Gil Beyen, former Chief Executive Officer of
ERYTECH. “I am now passing the lead to Thibaut Du Fayet as
the new CEO and wish him and the entire management team success in
implementing PHAXIAM’s ambitious strategy. I take the occasion to
thank all current and former ERYTECH employees and fellow board
members for their dedication and enthusiasm for our project over
the past 10 years.”
“I am very proud to have the opportunity to
continue the PHERECYDES project within PHAXIAM therapeutics and to
be able to deploy it more widely by capitalizing on the skills and
talents of all ERYTECH and PHERECYDES employees; Our ambition is to
strengthen PHAXIAM therapeutics' competitive position as an
undisputed leader in phage therapy worldwide, serving patients”,
said Thibaut du Fayet, incoming Chief Executive Officer of
PHAXIAM.
The combination will draw on the complementary
expertise and resources of the two companies to accelerate the
development of a global phage therapy portfolio, aimed at combating
antimicrobial resistance (AMR), a globally recognized health issue.
AMR is currently responsible for more than one million deaths per
year worldwide and is expected to grow to more than 10 million
annual casualties by 2050. For reference, the estimated worldwide
number of cancers is currently around 10 million per year.
The Company is developing a pipeline of clinical
stage extended phage therapies and expects significant value
creation milestones in the next two years.
- Results of the ongoing PhagoDAIR
Phase 2 trial in patients with knee or hip prosthetic joint
infections (PJI) due to Staphylococcus aureus (S. aureus),
anticipated in Q1 2024
- Launch of Phase 1 trial in patients
with endocarditis due to S. aureus expected in mid-2023, with
results expected by S1 2024
- Launch of Phase 1 trial in patients
with complex urinary tract infections due to E. coli expected in Q1
2024, with results expected in S2 2024
- Expansion of bacteriophage
portfolio targeting two additional pathogens, critical in
developing a comprehensive target portfolio in the fight against
resistant bacterial infections
Furthermore, the company is building a research
& development strategy leveraging on complementary Platforms
and Capabilities, to support phage and endolysins therapeutic
approaches in anti -infectives fields like AMR and other, such,
food, cosmetics and animal health; or phage as carriers.
The board of directors of PHAXIAM is composed of
an equal number of directors from the former ERYTECH and PHERECYDES
boards (without casting vote for the Chair), and is constituted
of:
- Didier Hoch, Chairman
- Gil Beyen, Vice Chairman
- Philippe Archinard, Independent
Director
- Martine George, Independent
Director
- Eric Leire, Independent
Director
- Go Capital, represented by Leila
Nicolas
- Guy Rigaud, Observer
- Robert Sebbag, Independent
Director
- Hilde Windels, Independent
Director
The executive team of PHAXIAM is composed of the
combination of previous ERYTECH and PHERECYDES management
teams:
- Thibaut du Fayet, CEO
- Eric Soyer, COO, CFO and Deputy
CEO
- Jérôme Bailly, CQO and Deputy
CEO
- Pascal Birman, CMO
- Céline Breda, CTO
- Karine Charton, CBO
- Cindy Fevre, CSO
- Anne-Cécile Fumey, VP HR
- Frédérique Vieville, CRO
PHAXIAM is based in Lyon, France, where the
company benefits from the presence in a major European hub for
infectious diseases. The company will furthermore leverage
ERYTECH’s US presence to facilitate access to US investors and to
clinical and regulatory stakeholders in the perspective of upcoming
clinical developments.
PHAXIAM is listed on the Nasdaq Global Select
Market in the United States and on the Euronext regulated market in
Paris (Ticker: ERYP being changed to a new one). A 10 for 1 reverse
stock split was approved by ERYTECH’s shareholders and is expected
to be implemented in the coming months.About PHAXIAM
Therapeutics
PHAXIAM is a biopharmaceutical company
developing innovative treatments for resistant bacterial
infections, which are responsible for many serious infections. The
company is building on an innovative approach based on the use of
phages, natural bacterial-killing viruses. PHAXIAM is developing a
portfolio of phages targeting 3 of the most resistant and dangerous
bacteria, which together account for more than two-thirds of
resistant hospital-acquired infections: Staphylococcus aureus,
Escherichia coli and Pseudomonas aeruginosa.
PHAXIAM is listed on the Nasdaq Global Select
Market in the United States (ticker: ERYP – to be modified to a new
symbol) and on the Euronext regulated market in Paris (ISIN code:
FR0011471135, ticker: ERYP). PHAXIAM is part of the CAC Healthcare,
CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable,
EnterNext PEA-PME 150 and Next Biotech indexes.
For more information, please visit www.erytech.com
Contacts
PHAXIAMEric SoyerCOO & CFO+33
4 78 74 44 38 investors@erytech.com |
NewCapMathilde Bohin / Louis-Victor
Delouvrier Relations investisseursNicolas
MerigeauRelations Médias +33 1 44 71 94 94
erytech@newcap.eu |
Forward-looking information
This press release contains forward-looking
statements, forecasts and estimates with respect to the clinical
programs , development plans, business and regulatory strategy and
anticipated future performance of PHAXIAM and of the market in
which it operates. Certain of these statements, forecasts and
estimates can be recognized by the use of words such as, without
limitation, “believes”, “anticipates”, “expects”, “intends”,
“plans”, “seeks”, “estimates”, “may”, “will” and “continue” and
similar expressions. All statements contained in this press release
other than statements of historical facts are forward-looking
statements. Such statements, forecasts and estimates are based on
various assumptions and assessments of known and unknown risks,
uncertainties and other factors, which were deemed reasonable when
made but may or may not prove to be correct. Actual events are
difficult to predict and may depend upon factors that are beyond
PHAXIAM's control. Therefore, actual results may turn out to be
materially different from the anticipated future results,
performance or achievements expressed or implied by such
statements, forecasts and estimates. Important factors that could
cause actual results and outcomes to differ materially from those
indicated in the forward-looking statements include, among others,
the following: (1) the inability to maintain the listing of
PHAXIAM’s shares on the Nasdaq Capital Market and the Euronext
regulated market; (2) changes in applicable laws or regulations;
(3) the possibility that PHAXIAM may be adversely affected by other
economic, business and/or competitive factors; and (4) other risks
and uncertainties indicated from time to time in PHAXIAM’s
regulatory filings. Further description of these risks,
uncertainties and other risks can be found in the Company’s
regulatory filings with the French Autorité des Marchés Financiers
(AMF), the Company’s Securities and Exchange Commission (SEC)
filings and reports, including in the Company’s 2022 Universal
Registration Document (Document d’Enregistrement Universel) filed
with the AMF on March 28, 2023 and in the Company’s Annual Report
on Form 20-F filed with the SEC on March 28, 2023 and future
filings and reports by the Company. Given these uncertainties, no
representations are made as to the accuracy or fairness of such
forward-looking statements, forecasts and estimates. Furthermore,
forward-looking statements, forecasts and estimates only speak as
of the date of this press release. Readers are cautioned not to
place undue reliance on any of these forward-looking statements.
PHAXIAM disclaims any obligation to update any such forward-looking
statement, forecast or estimates to reflect any change in PHAXIAM’s
expectations with regard thereto, or any change in events,
conditions or circumstances on which any such statement, forecast
or estimate is based, except to the extent required by law.
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