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BRIEF-Pharnext announces strategic partnership with Tasly
May 10, 2017 / 5:19 AM / 6 months ago

BRIEF-Pharnext announces strategic partnership with Tasly

May 10 (Reuters) - PHARNEXT SAS:

* PHARNEXT ANNOUNCES STRATEGIC PARTNERSHIP WITH TASLY, A LEADING CHINESE PHARMACEUTICAL GROUP

* PHARNEXT HAS REQUESTED EURONEXT TO RESUME TRADING ON ITS STOCK EXCHANGE EFFECTIVE AS OF EURONEXT PARIS MARKET OPENING ON WEDNESDAY MAY 10(TH), 2017 AT 9:00AM CEST

* AGREEMENT INCLUDES AN INVESTMENT OF EUR 20 MILLION BY TASLY IN PHARNEXT AT A SUBSTANTIAL PREMIUM OVER CURRENT STOCK PRICE

* INVESTMENT INCLUDES EUR 5 MILLION IN SHARES AT A PRICE OF EUR 12.5 PER SHARE AND EUR 15 MILLION IN CONVERTIBLE BONDS WITH A CONVERSION PRICE OF EUR 13 PER SHARE

* AGREEMENT INCLUDES CREATION OF A RESEARCH AND DEVELOPMENT JOINT-VENTURE (JV), OWNED 30% BY PHARNEXT, TO DEVELOP NEW COMBINATIONS OF MOLECULES

* AGREEMENT INCLUDES A LICENSING AGREEMENT FOR DEVELOPMENT AND COMMERCIALIZATION BY JV OF DRUG CANDIDATE PXT3003 FOR CHARCOT-MARIE-TOOTH TYPE 1A DISEASE ON CHINESE MARKET Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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