Liege (Belgium) - October 16, 2007, 8:15 CET - OncoMethylome Sciences SA (Euronext Brussels: ONCOB, Euronext Amsterdam: ONCOA) has engaged in a private placement of new shares.
OncoMethylome has instructed investment bankers to initiate a private accelerated bookbuild offering to institutional and qualified investors with a view to placing new shares for an approximate amount of €8 million, or possibly more, but not more than 10% of the presently outstanding shares. The funds will be used to finance the execution of OncoMethylome's business plan, especially the clinical trials that are necessary for developing OncoMethylome's novel cancer diagnostic products and personalized cancer treatment tests.
The company will announce the results of the offering as soon as possible after closing of the book building.
About OncoMethylome Sciences
OncoMethylome Sciences (Euronext Brussels: ONCOB; Euronext Amsterdam: ONCOA) is a molecular diagnostics company developing gene methylation tests to assist physicians in effectively detecting and treating cancer. Specifically, the company's tests are designed to help the physician (i) accurately detect cancer in early stages of cancer development, (ii) predict a patient's response to drug therapy, and (iii) predict the likelihood of cancer recurrence.
OncoMethylome boasts a broad product development pipeline consisting of ten products and a solid partnering record. The company collaborates with leading international molecular oncology research centers, such as The Johns Hopkins University, and has a number of commercial and collaborative partnerships with Veridex LLC, a Johnson & Johnson company, Schering-Plough Corp., Millipore Corporation's BioScience Division, and EXACT Sciences Corp. OncoMethylome's products are based on methylation technology invented by Johns Hopkins University (USA).
Established in January 2003, OncoMethylome has offices in Liege and Leuven (Belgium), in Durham, NC (USA), and in Amsterdam (the Netherlands).
For more information please contact:
Lucija Turcinov
Tel. +32-479-801-902
or visit: www.oncomethylome.com
Important information about forward-looking statements
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of OncoMethylome and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the Company's control, and may turn out to be materially different.
