PARIS–(BUSINESS WIRE)–Regulatory News:
Lysogene (FR0013233475 – LYS) (Paris:LYS), a phase 3 biopharmaceutical company based on a gene therapy technology platform targeting central nervous system (CNS) diseases, announces the conversion of the safeguard procedure, which makes it subject from December 13 , 2022, under controlled administration procedure.
As announced on January 6, 2023, as Lysogene failed to identify a solution to consolidate its financial situation and sustain its funding horizon during the safeguard proceedings, Lysogene, together with the bankruptcy trustee, filed a request with the Commercial Court of Nanterre in order to convert the safeguard procedure into a controlled administration procedure. This request was examined and approved by the Commercial Court of Nanterre during the hearing of 24 January 2023.
In this context, Lysogene recalls that on January 6, 2023 a call for tenders was published by the insolvency administrator aimed at finding buyers or investors and that the deadline for the submission of the acquisition offers was set by the latter as February 15, 2023 at 12 noon.
Interested candidates are invited to contact:
SELARL FHB, Associate Court Administrators
I Helene BOURBOULOUX,
176 avenue Charles de Gaulle
92200 Neuilly-sur-Seine
e-mail :
henri.loqueville@fhbx.eu
carla.messadia@fhbx.eu
Access to an electronic data room will be authorized after regularization of a confidentiality agreement and brief presentation of the candidate.
Lysogene would also like to draw the attention of its shareholders to the fact that, given its financial situation, the proceeds of the sale received under the ongoing collective proceedings will, a priori, only benefit Lysogene’s creditors and will not produce any cash for said shareholders.
In light of the above, Lysogene has asked Euronext Paris to maintain the suspension of the listing of its shares.
Information will be communicated regularly to the market on the progress of the procedure and, more generally, on the financial situation of Lysogene.
About Lysogenes
Lysogene is a biopharmaceutical company specializing in gene therapy targeting central nervous system (CNS) diseases. The company has acquired a unique expertise that allows it to deliver gene therapies in the central nervous system for the treatment of lysosomal storage diseases and other genetic disorders of the central nervous system. Lysogene is currently conducting a Phase 2/3 clinical study in MPS IIIA. An adaptive clinical trial in GM1 gangliosidosis is ongoing. Lysogene is also developing an innovative AAV gene therapy approach for the treatment of fragile X syndrome, a genetic disorder linked to autism. The Company also signed an exclusive worldwide licensing agreement with Yeda, the commercial entity of the Weizmann Institute of Science, for a gene therapy drug candidate for the treatment of Parkinson’s disease associated with mutations in the GBA1 gene. www.lysogene.com.
Forward-looking statements by Lysogene
This press release may contain forward-looking statements, including regarding the progress of clinical trials and the Company’s cash flow forecasts. Although the Company believes its forecasts are based on reasonable assumptions, any statements other than statements of historical fact that this press release may contain relating to future events are subject to (i) change without notice, (ii) factors beyond beyond the control of the Company, (iii) the results of clinical studies, (iv) the increase in production costs, (v) potential claims on its products. These statements may include, but this list is not exhaustive, any statement that begins with, followed by, or includes words or phrases such as “goal”, “believe”, “plan”, “aim”, “intend”, “may”, “anticipate”, “estimate”, “plan”, “project”, “must”, “may have”, “probably”, “should”, “might” and other words and expressions of the same meaning or dependent in the negative form . Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could, if any, cause the Company’s actual results, performance or achievements to differ materially from those anticipated or expressed expressly or implied by such statements forward-looking statements. A list and description of such risks, uncertainties and uncertainties appear in the documents filed by the Company with the Autorité des Marchés Financiers (AMF) in relation to its regulatory obligations, included in the Company’s 2021 universal registration document, registered with the AMF in date 19 April 2022, as well as in the documents and reports that will subsequently be published by the Company. Furthermore, these forward-looking statements speak only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, the Company disclaims any obligation to publicly update any such forward-looking statements, or to update the reasons why actual results could vary materially from the results anticipated by the forward-looking statements, even as new information becomes available. . The Company’s updating of one or more forward-looking statements does not imply that it will update such forward-looking statements or other forward-looking statements.
contacts
Contacts – Company
As from La Tour du Pin
Interim Administrative and Financial Director
come.delatourdupin@lysogene.com
+ 33 1 41 43 03 90
Contacts – Patients
contact@lysogene.com