Hyloris Pharmaceuticals SA
(“Hyloris” or the “Company”)
Hyloris Pharmaceuticals successfully raises €15 million in funding round
Liège, Belgium, – 30 April 2020: Hyloris Pharmaceuticals SA, an innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals, today announces that it has raised €15 million in a funding round, supported by a mix of new and existing investors including Scorpiaux, Noshaq, Saffelberg Investments and Nomainvest.
Led by a highly experienced management team, Hyloris has a distinct ability to identify underserved medical needs and develop new formulations of existing drugs. The Company is developing proprietary products it believes offer significant advantages compared to currently available alternatives, with the aim of adding value to the healthcare system. The Company’s development strategy is focused on the US Food and Drug Administration’s 505(b)(2) regulatory pathway for pharmaceuticals where safety and efficacy of selected molecules have already been established.
Hyloris’ products and product candidates span three key areas: IV Cardiovascular, Other Reformulations and Established Market (high-barrier generics). The Company currently has two commercial-stage products: Sotalol IV for the treatment of atrial fibrillation, partnered with AltaThera and Maxigesic® IV, a non-opioid analgesic for the treatment of pain which is co-owned with AFT Pharmaceuticals. Hyloris also has 12 product candidates in various stages of development in its portfolio.
The proceeds of this funding round will, among other things, enable Hyloris to further support and execute its development and commercialisation strategy, with the aim to ultimately bring significantly improved products to the market.
Stijn Van Rompay, Chief Executive Officer and Co-founder of Hyloris, commented: “We are delighted by the level of enthusiasm received in this financing round during these unprecedented times. I’m pleased that we reached the targeted amount of our raise and I would like to thank all of our new and existing investors for their continued support as we advance our development strategy to bring pharmaceutical products with added value to the market.”
Stefan Yee, Chairman of Hyloris, added: “Right from the start, Hyloris’ aim has been to bring reformulated drugs with high added value to the market as quickly as possible. This fundraise is an important milestone in this journey, as we seek to expand commercialisation of our antiarrhythmic agent Sotalol IV and work towards the market entry for our non-opioid pain medication Maxigesic® IV, as well as drive the development of our strong pipeline.”
ENDS
For more information, please contact:
Hyloris Pharmaceuticals
Stijn Van Rompay, CEO
Patrick Jeanmart, CFO
+32 (0)4 346 02 07
contact@hyloris.com
Consilium Strategic Communications
Amber Fennell, Chris Welsh, Taiana De Ruyck Soares
+44 20 3709 5700
hyloris@consilium-comms.com
About Hyloris Pharmaceuticals SA
Based in Liège, Belgium, Hyloris is an innovative specialty pharmaceutical company focused on adding value to patients and the healthcare system by reformulating well-known pharmaceuticals. Hyloris develops proprietary products it believes offer significant advantages compared to currently available alternatives, with the aim to address the underserved medical needs of patients, hospitals, physicians, payors and other stakeholders in the healthcare system. Hyloris’ portfolio spans three areas of focus: IV Cardiovascular, Other Reformulations and Established Market (high-barrier generics). Hyloris currently has two commercial-stage products, Sotalol IV for the treatment of atrial fibrillation, commercialised through its partner AltaThera, and Maxigesic® IV, a non-opioid analgesic product for the treatment of pain, developed with the Company’s partner, AFT Pharmaceuticals. Additionally, Hyloris has twelve product candidates in various stages of development across the Company’s wider portfolio. Read more at www.hyloris.com
This announcement does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable securities laws of any state or other jurisdiction of the United States.