GENFIT TO RAISE CAPITAL VIA A PRIVATE PLACEMENT OF NEW SHARES
This document shall not be published, distributed or disclosed, either directly or indirectly in the United States of America, in Canada, in Japan or in Australia. This press release is information purpose only and does not constitute an offering document.
Lille (France), April 12th, 2013 - GENFIT (Alternext: ALGFT; ISIN: FR0004163111), a biopharmaceutical company at the forefront of drug discovery and development, focusing on the early diagnosis and preventive treatment of cardiometabolic and associated disorders, today announces the launch of a capital increase through issuance of ordinary shares without preferential subscription rights by way of a private placement offered exclusively to qualified French and Foreign investors. The gross amount of this capital increase is expected to be between 12 and 15 million euros subject the limits stipulated by the 17 th resolution of the company's combined Shareholders' Meeting held on 26th of June 2012, which approved the issuance of up to 2.933.800 shares and representating a maximum of 20 % of the capital.
The funds raised will be used by GENFIT to:
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Pursue the development of its most advanced drug candidate, GFT505, in phase IIb, in order to maximize its value in preparation of out-licencing the commercial rights before the start of phase III.
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Allow the rapid advancement of other programs in its pipeline, namely the development of compounds in preclinical phase, discovered in the programs TGFTX1 and TGFTX3 for partnership alliances.
The private placement will be conducted pending the satisfaction of certain usual conditions, through an accelerated book building procedure directed by Portzamparc, Société de Bourse. The order book will be open for qualified investors from 12th April, 2013 at 18h30 to 15th April 2013, 16h00 ( Paris hours ). The definite terms of the private placement will be announced as soon as possible after closing of the order book.
GENFIT has simultaneously requested that NYSE Euronext suspends the listing of its stocks on Euronext - Alternext. The trading of its shares should be resumed upon publication of the results of the private investment.
About GENFIT:
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in therapeutic fields linked to cardiometabolic disorders (prediabetes/diabetes, atherosclerosis, dyslipidemia, inflammatory diseases.). GENFIT uses a multi-pronged approach based on early diagnosis, preventive solutions, and therapeutic treatments and advances therapeutic research programs, either independently or in partnership with leading pharmaceutical companies, including Sanofi, to address these major public health concerns and their unmet medical needs.
GENFIT's research programs have resulted in the creation of a rich and diversified pipeline of drug candidates at different stages of development, including GENFIT's lead proprietary compound, GFT505, that is currently in Phase IIb.
With facilities in Lille, France, and Cambridge, MA (USA), the Company has approximately 80 employees. GENFIT is a public company listed on the Alternext trading market by Euronext(TM) Paris (Alternext: ALGFT; ISIN: FR0004163111). www.genfit.com
Contacts:
GENFIT
Jean-François Mouney - CEO & Chairman of the Management Board
Ph. +333 2016 4000
Milestones - Press Relations
Bruno Arabian Ph. +33 1 7544 8740 / +336 8788 4726 - barabian@milestones.fr
Warnings
The offering of Genfit shares will be made exclusively in the course of a private placement to qualified investors in accordance with article L. 411-2 of the French Monetary and Financial Code and applicable regulations. It does not constitute an offer to the public within the meaning of L. 411-1 of the Monetary and Financial Code and will not result in a prospectus filed with the Autorité des marchés financiers.
This press release does not constitute and shall not be interpreted as constituting a public offer or a subscription offer or as soliciting the interest of the public with a view to making a public offer in any jurisdiction whatsoever.
This press release does not constitute either a prospectus within the meaning of directive 2003/71/EC of the European parliament and council of November 4, 2003 (as implemented in each of the member of the European Economic Area). No action has been taken or will be taken to permit a public offer of Genfit shares that would require the publication of a prospectus in any member state or any filing or registration with any regulatory authority in any State whatsoever.
This press release does not constitute and is not part of an offer or any solicitation of an offer to purchase or subscribe for securities in the United States of America or in any State of United State of America. Genfit's shares may not be offered or sold in the United States of America except in case of registration or under an exemption for registration under the US securities act of 1933, as amended. Genfit has no intention registering the offer being the subject matter of this press release or part thereof in the United States of America or of making any public offering for its securities in the United States of America. This press release may not be published, distributed or transferred, directly or indirectly, in the United States of America.
The distribution of this document may, in several countries, be subject to specific regulations. Persons into whose possession this document comes should inform themselves about potential local restrictions and comply with them.
