Bryan, Garnier & Co announces the successful €25m Placement of Erytech

Paris, December 9th, 2015 – Bryan, Garnier & Co, the pan-European investment bank for growth companies, announces the successful €25 million placement of Erytech, the French biopharmaceutical company that develops innovative ‘tumor starvation’ treatments for acute leukemia and other oncology indications with unmet medical needs. Bryan, Garnier & Co acted as Placement Agent alongside Jefferies International Limited, Leerink Partners LLC; LifeSci Capital LLC acted as co-manager.

ERYTECH Pharma (Euronext Paris – ERYP) placed 940,000 ordinary shares to qualified investors in the United States and Europe at a price of €27.00 per share for a total amount subscribed of approximately 

€ 25.4 million, representing approximatively 14% of the share capital of the company. The transaction was priced on December 3rd, 2015 at a limited discount of 3.1% on the last closing price and the stock price closed at €27.91 on the day of the announcement.

The share capital increase of the company was carried out by issuing ordinary shares without preferential subscription rights by private placement amongst qualified investors in accordance with Article L. 411-2 II of the French Monetary and Financial Code (Code monétaire et financier). Settlement and delivery of the new shares occurred on December 7, 2015.

The Company intends to use the proceeds from this placement in order to fund primarily the continued clinical development of its ERY-ASP/GRASPA specifically for the treatment of acute lymphoblastic leukemia (ALL) as a first-line therapy, and for the treatment of Non-Hodgkin lymphoma.

Gil Beyen, Chairman and CEO of ERYTECH Pharma said : “Bryan, Garnier & Co has been a true partner for us since the IPO. The strong commitment of Bryan, Garnier & Co has been a key contributor to the successful completion of this private placement that will allow us to finance key value-creating projects.”

Olivier Garnier, Managing Partner at Bryan, Garnier & Co, emphasized: “Erytech Pharma exemplifies the fast growing healthcare companies Bryan Garnier & Co aims to accompany in their various corporate finance needs. This transaction illustrates again Bryan, Garnier & Co’s unique ability to support European healthcare growth companies, in a variety of situations, on both European and US markets.”

Hervé Ronin, Partner at Bryan, Garnier & Co, added: “This second follow-on financing since the company went public demonstrates our commitment to accompany our client on and after their IPO. This private placement was a success in challenging market conditions: it is one of the few ECM healthcare transactions on Euronext in 2015 H2 and the second largest.”

With more than €1.5bn of capital raised over 2014-2015YTD, Bryan Garnier & Co tops the European fundraising league table in healthcare:

• Bryan, Garnier & Co has been involved in several recent IPOs of European healthcare companies on Nasdaq. Amongst the six largest Nasdaq IPOs of European companies, Bryan, Garnier & Co co-led or co-managed : the 100m$ Nasdaq IPO of Celyad (Belgium, May 2015), the $317m Nasdaq IPO of Galapagos (Belgium, April 2015), the $133m IPO of DBV Technologies (France, October 2014), and the $86m IPO and $97m follow-on of LDR Holding (US/France, May 2014).
• Since January 2015, Bryan, Garnier & Co has been also involved in the $245m DBV Technologies public offering, the £20m follow-on of Advanced Oncotherapy, the £106m IPO of Quantum Pharma on the London Stock Exchange, a €27m PIPE for Nicox, a €32 PIPE for Cardio3, as well as the €37m IPO of Bone Therapeutics on Euronext.
  
• In 2014, Bryan, Garnier & Co acted as sole placement agent for the €100m growth financing of Merieux Nutrisciences, the largest European healthcare private placement of the year.
  

About Erytech (www.erytech.com)

Founded in Lyon, France in 2004, ERYTECH is a clinical-stage biopharmaceutical company developing innovative therapies for rare forms of cancer and orphan diseases. Leveraging its proprietary ERYCAPS platform, which uses a novel technology to encapsulate therapeutic drug substances inside red blood cells, ERYTECH has developed a pipeline of product candidates targeting markets with high unmet medical needs. ERYTECH’s initial focus is on the treatment of blood cancers, including acute lymphoblastic leukemia (ALL) and acute myeloid leukemia (AML), by depriving tumors of nutrients necessary for their survival. ERYTECH has recently announced positive efficacy and safety results from its completed Phase 2/3 pivotal clinical trial in Europe with its lead product candidate, ERY-ASP, also known under the trade name GRASPA®, in children and adults with relapsed or refractory ALL. ERYTECH also has an ongoing Phase 1 clinical trial of ERY-ASP in the United States in adults with newly diagnosed ALL, and a Phase 2 clinical trial in Europe evaluating GRASPA as a first-line therapy for the treatment of elderly patients with AML, each in combination with chemotherapy.

About Bryan, Garnier & Co (www.bryangarnier.com)

Bryan, Garnier & Co is an international growth-focused independent investment bank with operations in London, Paris, Geneva, New York and New Delhi. Since 1996, Bryan, Garnier & Co has dealt with over 300 corporate clients. The firm employs 120 people and provides equity research, sales & trading, private and public capital raising and M&A services to growth companies and their investors, with a focus on the TMT, Healthcare, Renewable Energies & Environment, Specialty Retail and Business Services industry sectors. In 2013, Bryan, Garnier & Co received the Most Productive European Broker Award by Financial Times / Starmine.

Bryan, Garnier & Co is a fully registered broker dealer authorized by the FCA in Europe and by the FINRA in the USA, and is a member of the London Stock Exchange, a member of NYSE Euronext and a listing sponsor on Alternext