Elanix Biotechnologies AG Raises EUR 1.125 Million gross proceeds from Completed Capital Increase and Signs Term-Sheet for Financing Facility of up to EUR 11 Million
The information in this announcement is NOT for publication OR distribution in or into the United States of America, Australia, Canada or any jurisdiction in which such distribution or publication could be unlawfulPRESS RELEASE Elanix Biotechnologies AG Raises EUR 1.125 Million gross proceeds from Completed Capital Increase and Signs Term-Sheet for Financing Facility of up to EUR 11 Million
Berlin, 14 February 2018 - Elanix Biotechnologies AG ("Elanix"; "the company"), a developer of tissue regeneration products and specialty cosmetics in the field of dermatology and gynecology, announced today the completion of a capital increase approved by the General Shareholder Assembly ("GSM") on 24 August 2017. A total of 300,019 shares were placed at a subscription price of EUR 3.75 resulting in gross proceeds of EUR 1.125 million. As a result of the cash capital increase, the share capital of Elanix will increase from EUR 6,799,200 to EUR 7,099,219.
Elanix will use the gross proceeds to:
- Launch SKINrepair(R), a dermatological cream that contains a proprietary Cell Free Protein Complex (CFPC(R)) of various proteins, such as collagen and fibronectin in the first half 2018.
- Advance development of FirstCover, a bioresorbable and bioactive skin dressing derived from progenitor skin fibroblasts to provide protection and accelerated healing for burns, trauma and plastic surgery, through regulatory approval as medical device and to market in 2020.
Concurrent with the capital raise, Elanix has signed a term sheet providing access to a financing facility with a leading istitutional investor of up to EUR 11 million over 3 years.
"This fundraising provides Elanix with the immediate capital to deliver on several product development milestones as well as sales amd marketing activities. The launch of SKINrepair during the first half of 2018 is a key component of our commercialization strategy that will supplement the growing revenue stream provided by GYNrepair(R) and Cells as a Service. Development of FirstCover remains on track, with launch of the initial CE Marked version planned for 2020," said Tomas J. Svoboda, CEO of Elanix Biotechnologies AG. "With the current market volatility, we decided to pursue a financing proposal from a U.S. based fund, which provides access to additional funds, to reach significant future milestones over the next three years."
Elanix develops and commercializes tissue regeneration products for acute wound care, dermatological and gynecological applications, and provides services in cell technologies. The company was founded in 2012 as a spin-out from the University Hospital of Lausanne (CHUV), Switzerland, to commercialize a patented human progenitor cell technology. Progenitor cells are fully differentiated yet immunologically neutral cells that are very potent inducers of tissue growth and healing. Elanix owns GMP certified Master and Working human cell banks with vast quantities of cells.
Elanix has registered headquarters in Berlin, Germany, with offices in Wiesbaden, Germany and Nyon, Switzerland. It is listed in the Regulated Market on the Frankfurt Stock Exchange under the symbol ELN.F. For more information and updates, visit www.elanixbiotechnologies.com.
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This communication is neither an offer nor an invitation to subscribe for or purchase shares of Elanix Biotechnologies AG in the United States of America, Germany or any other country. Neither does this communication constitute a prospectus under Directive 2003/71/EC of the European Parliament and Council dated 4 November 2003 as amended (the "Prospectus Directive"). The public offering in Germany is carried out solely by means of and based on the share prospectus approved by the Federal Supervisory Financial Authority (BaFin). This share prospectus is published on the Elanix Biotechnologies AG website (https://elanixbiotechnologies.com/Investor Relations). Any investment decision relating to Elanix Biotechnologies AG subscription rights or shares should be made based on the prospectus.
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14.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Elanix Biotechnologies AG Kurfürstendamm 32 10719 Berlin
Germany ISIN: DE000A0WMJQ4 WKN: A0WMJQ Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf End of News DGAP News Service