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ORYZON Announces a New Financing Through a Convertible Bond Program for a Total Amount up to €20 Million Over 30 Months

Oryzon Genomics, S.A.
Oryzon Genomics, S.A.
  • Funding provided by Nice & Green SA, a Swiss institutional investor

  • To extend its cash runway and continue the ongoing Clinical Trials in oncology and CNS

  • Initial execution of the First tranche of €8 Million, plus three optional additional tranches of €4Million to be executed in the future, at Oryzon’s request, subject to customary conditions

MADRID, Spain and CAMBRIDGE, Mass., July 05, 2022 (GLOBE NEWSWIRE) -- Oryzon Genomics, S.A. (ISIN Code: ES0167733015, ORY), a clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, announced today the entry into a convertible bonds financing agreement (the “Issuance Agreement”) with Nice & Green in bonds convertible into new shares for a total amount of €20 Million. The financing program consists of 4 tranches, one tranche of €8 Million and three future optional tranches of €4 Million to be drawn at the discretion of Oryzon, subject to customary conditions.

The Convertible Notes (CN) have a maturity of 24 months, zero interest rate and have no warrants associated. The conversion price at which the new shares shall be issued will be 95% (ninety five percent) of the average Closing Daily VWAP of the period between conversions, but will never exceed a 9.99% discount compared to the closing price preceding the date of Conversion of the relevant CN. Oryzon has the right to execute the redemption of any or all Notes at 3% of interest. Nice & Green will, on a best effort basis, trade its equity position in both exchanges in BME with ordinary shares and in Nasdaq with ADRs. Nice & Green will have the option to participate in a future capital increase leading to a Nasdaq linked transaction subject to customary conditions.

ANNUNCIO PUBBLICITARIO

Dr. Carlos Buesa, Oryzon’s CEO, said: “In an increasingly volatile and unpredictable market, we are excited to have secured this financial support from Nice & Green. This complementary funding allows us to further strengthen our balance sheet, extending substantially our cash runway and allowing us to laser focus on the execution of the ongoing clinical trials that shall provide substantial inflection points in the next quarters.”

Marc Cattelani, CEO of Nice & Green, stated: “We are thrilled to embark on this journey with Oryzon to help strengthen their equity capital and support the advancement of their clinical trials. As a responsible and loyal financial partner, Nice & Green will remain attentive to the evolving financing needs of Oryzon's management team in the near and long term.”

About Oryzon
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European leader in epigenetics. Oryzon has one of the strongest portfolios in the field, with two LSD1 inhibitors, iadademstat and vafidemstat, in Phase II clinical trials, and other pipeline assets directed against other epigenetic targets. In addition, Oryzon has a strong platform for biomarker identification and target validation for a variety of malignant and neurological diseases. For more information, visit www.oryzon.com

About Nice & Green
Nice & Green is a privately held equity financing firm providing tailor-made and flexible financing solutions for listed Micro-, Small- and Mid-Cap companies in Europe. Nice & Green works towards improving financing solutions to better meet the evolving capital raising needs of listed companies. It strives to create value for both the companies and their shareholders, thanks to a virtuous approach for investment. For more information, visit nicengreen.ch.

FORWARD-LOOKING STATEMENTS
This communication contains, or may contain, forward-looking information and statements about Oryzon, including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates” and similar expressions. Although Oryzon believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Oryzon shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Oryzon that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Oryzon to the Spanish Comisión Nacional del Mercado de Valores (CNMV), which are accessible to the public. Forward-looking statements are not guarantees of future performance and have not been reviewed by the auditors of Oryzon. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Oryzon or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Oryzon on the date hereof. Except as required by applicable law, Oryzon does not undertake any obligation to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. This press release is not an offer of securities for sale in the United States or any other jurisdiction. Oryzon’s securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of Oryzon’s securities to be made in the United States will be made by means of a prospectus that may be obtained from Oryzon or the selling security holder, as applicable, that will contain detailed information about Oryzon and management, as well as financial statements.

IR, US

IR & Media, Europe

Spain

Oryzon

Ashley R. Robinson

Sandya von der Weid

Patricia Cobo

Saikat Nandi

LifeSci Advisors, LLC

LifeSci Advisors, LLC

/ Carlos C. Ungría

Chief Business Officer

+1 617 430 7577

+41 78 680 05 38

+34 91 564 07 25

+1 917 208 8293

arr@lifesciadvisors.com

svonderweid@lifesciadvisors.com

pcobo@atrevia.com
cungria@atrevia.com

snandi@oryzon.com