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Epigenomics AG. (10/16/14). "Presss Release: Epigenomics AG Raises USD 5.3 Million from Its Strategic Commercialization Partner BioChain". Berlin et al..
Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY), the German-American cancer molecular diagnostics company, today announced that the Company is raising USD 5.3 million (EUR 4.2 million) in a share capital increase. BioChain Institute, Inc. will subscribe a total of 1,351,089 Epigenomics shares which will be issued under exclusion of the statutory subscription right of the shareholders.
The Executive Board of Epigenomics AG, with approval of the Supervisory Board, today resolved on the increase of the of the Company's share capital by the amount of EUR 1,351,089 by issuance of 1,351,089 new shares from the Authorized Capital 2014/I against contribution in cash. The issue price has been set at EUR 3.08 per share, based on the XETRA closing price of the day prior to the announcement, Wednesday, October 15, 2014. After registration of the capital increase on or around November 21, 2014, the subscribed capital of Epigenomics AG will increase from currently EUR 13,517,558 to EUR 14,868,647.
"We are delighted with BioChain's allegiance to Epi proColon®, our partnership and exciting plans for the future of colorectal cancer screening. The new investment reinforces and deepens our joint commitment to the successful launch of Epi proColon® throughout major markets and is clear evidence of the shared belief in our future success," said Dr. Thomas Taapken, CEO of Epigenomics AG. "The secured funds are very important for Epigenomics to extend our cash reach for the execution of important final steps in the approval and commercialization for our lead product Epi proColon® in the United States and China."
Epigenomics AG intends to use the net proceeds from the capital increase to finance its current operations and to strengthen the distribution capabilities for its lead product Epi proColon®, a convenient blood-based test for the early detection of colorectal cancer.
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Epigenomics (www.epigenomics.com) is a molecular diagnostics company developing and commercializing a pipeline of proprietary products for cancer. The Company's products enable doctors to diagnose cancer earlier and more accurately, leading to improved outcomes for patients. Epigenomics' lead product, Epi proColon®, is a blood-based test for the early detection of colorectal cancer, which is currently marketed in Europe and is under regulatory review by the FDA for the U.S.A. and the Chinese Food and Drug Administration for China. Additionally, the Company markets its tissue assay for use in lung cancer diagnosis, Epi proLung®, in Europe. The Company's technology and products have been validated through multiple partnerships with leading global diagnostic companies and testing laboratories. Epigenomics is an international company with operations in Europe and the U.S.A.
BioChain (www.biochain.com, www.biochainbj.com) is a manufacturer of Life Sciences tools and the pioneer of molecular genetics diagnostics in the US and China. It is also the owner and operator of an independent reference laboratory, equivalent of a CLIA lab, in China - Beijing BioChain Medical Laboratory (BBML). BBML is unique in that it focuses on the application of molecular diagnostics technologies and products. BBML is located in the economic development zone of Beijing, China. Through BBML, BioChain is committed to the application of the cutting edge "omics" technologies in the areas of reproductive health and cancer diagnosis.
BBML offers comprehensive services to its customers in China with a list of cellular and molecular test menus based on diverse technologies appropriate to each stage and type of disease. Technology platforms employed by BioChain include karyotyping analysis of cytogenetics, fluorescent in-situ hybridization (FISH), array comparative genomic hybridization (aCGH), quantitative PCR (qPCR), Sanger sequencing, next generation sequencing (NGS), multiplex ligation-dependent probe amplification (MLPA), and genetic linkage analysis. BioChain has a strong bioinformatics team and established the first Chromosomal Health Database for the Chinese population (www.szjkzd.org:8080/app/auth).
Epigenomics legal disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
The information contained in this communication does not constitute nor imply an offer to sell or transfer any product, and no product based on this technology is currently available for sale by Epigenomics in the United States or Canada. The analytical and clinical performance characteristics of any Epigenomics product based on this technology which may be sold at some future time in the U.S. have not been established.
Record changed: 2016-06-07
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