Epigenomics AG / Key word(s): Corporate Action
04.12.2013 / 09:20
Berlin, Germany, and U.S.A., December 4, 2013 – Epigenomics AG (Frankfurt Prime Standard: ECX, OTC: EPGNY), the German-American cancer molecular diagnostics company, today announced that it has obtained a commitment for an additional financing. Through the issuance of convertible bonds, the Company will immediately receive gross proceeds of EUR 2.5 million and upon conversion of the bonds is eligible to receive additional payments of up to EUR 15.7 million. Maxim Group LLC acted as exclusive agent in the placement of these new securities.
Dr. Thomas Taapken, CEO/CFO of Epigenomics, commented: ‘With the issuance of these convertible bonds, we have not only potentially secured the funds necessary to carry our business operations beyond the potential FDA approval of our Epi proColon(R) blood-based colorectal cancer screening test, but also secured access to additional inflows from financing of up to EUR 15.7 million, allowing to satisfy demand from US institutional investors accustomed to invest in convertible bond issues to participate in the future development of Epigenomics. For our current shareholders, this represents also an attractive possibility to benefit from a possible approval of our product in the future.’ He further added: ‘We have significantly improved the financial stability of the Company over the course of 2013 and do look optimistically into an eventful year to come’.
The key terms and conditions are summarized as follows:
The detailed terms and conditions are explained in detail in the pre-emption offer, which has been published on the Company’s website.
– Ends –
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(R), is a blood-based test for the early detection of colorectal cancer, which is currently marketed in Europe and is in development for the U.S.A and China. 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.
Contact Epigenomics AG
Antje Zeise, Manager IR | PR
For US press inquiries:
Epigenomics legal disclaimer
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.
End of Corporate News
04.12.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Kleine Präsidentenstraße 1|
|Phone:||+49 30 24345-0|
|Fax:||+49 30 24345-555|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart|
|End of News||DGAP News-Service|