Oryzon cashes in €30m
Barcelona-based epigentics specialist Oryzon Genomics, SA, a clinical-stage biopharmaceutical company and a European leader in epigenetics, announced today the successful completion has completed an oversubscribed €30m capital increase through issuing 12,765,958 new shares, priced at €2.35 per share.
An unnamed US-based institutional investor anchored the round with a €15m order, with the remaining demand filled by investors across the US, Europe, and Spain. The capital increase was capped at €30m by the company’s Board of Directors.
Oryzon Genomics announced it will used the proceeds to clinical development of its oral LSD1 modulator vafidemstat for the treatment of aggression in CNS disorders such as Borderline Personality Disorder (BPD) and Autism Spectrum Disorder (ASD). Additionally, ongoing clinical programs in oncology and hematology will be advanced and the company will improve its legal and audit readiness for a potential dual listing on Nasdaq.
Oryzon has an advanced clinical portfolio with two LSD1 inhibitors, vafidemstat in CNS (Phase III-ready) and iadademstat in oncology (Phase II). The company has other pipeline assets directed against other epigenetic targets like HDAC-6 where a clinical candidate ORY-4001, has been nominated for its possible development in CMT and ALS. In addition, Oryzon has a platform for biomarker identification and target validation for a variety of malignant and neurological diseases.
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