Pratteln, Switzerland, April 3, 2019 - Santhera Pharmaceuticals (SANN.SW) announces that it has entered into a CHF 15.0 million credit line facility and is providing an update on ongoing corporate financing initiatives, including the issuance of equity and business development opportunities that would strengthen the financial base of the Company.
Santhera has taken out a syndicated credit line which, subject to certain conditions, will provide up to CHF 15.0 million over a time period of nine months. Alongside this, Santhera is preparing for the issuance of up to 500,000 registered shares, representing 4.7% of its currently outstanding share capital. These shares would be issued from its existing authorized share capital by way of a private placement managed by Mirabaud Securities (Geneva). In addition, Santhera is considering various options to monetize certain assets which would provide for additional non-dilutive funding.
Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative medicines for rare and other diseases with high unmet medical needs. The portfolio comprises clinical stage and marketed treatments for neuro-ophthalmologic, neuromuscular and pulmonary diseases. Santhera`s Raxone® (idebenone) is authorized in the European Union, Norway, Iceland, Liechtenstein, Israel and Serbia for the treatment of Leber`s hereditary optic neuropathy (LHON) and is currently commercialized in more than 20 countries. For further information, please visit www.santhera.com.
Raxone® and Puldysa® are trademarks of Santhera Pharmaceuticals.
For further information please contact:
Eva Kalias, Head External Communications
Phone: +41 79 875 27 80
Christoph Rentsch, Chief Financial Officer Hans Vitzthum, LifeSci Advisors
Europe: +41 61 906 89 65 US: +1 212 915 2568
Disclaimer / Forward-looking statements
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Santhera Pharmaceuticals Holding AG. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
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Source: Santhera Pharmaceuticals Holding AG via GlobeNewswire