OctoPlus extends subscription period of its follow-on financing
OctoPlus N.V. ("OctoPlus" or the "Company") (Euronext: OCTO), the
drug delivery and development company, announces today that it
extends the subscription period of its follow-on financing. The
subscription period will last until Thursday 29 November 2007, 16.00
hours CET.
Timeline
The timetable below lists certain expected key dates for the
following-on financing.
+-------------------------------------------------------------------+
| Beginning of subscription period in the | 12 November 2007 09:00 |
| Netherlands | CET |
|------------------------------------------+------------------------|
| End of subscription period in the | 29 November 2007 16:00 |
| Netherlands | CET |
|------------------------------------------+------------------------|
| Allotment Date | 29 November 2007 |
|------------------------------------------+------------------------|
| Listing and Settlement Date | 5 December 2007 |
+-------------------------------------------------------------------+
The Offer
The offer consists of an offering (the "Offer") to raise proceeds of
up to ¤ 25 million in newly issued ordinary shares with a nominal
value of ¤ 0.12 per Share. The Offer consists of a public offering in
the Netherlands and a private placement with institutional investors
in certain other jurisdictions.
OctoPlus intends to grant to the Underwriters an option, exercisable
within 30 calendar days after the Allotment Date, pursuant to which
the Underwriters would be able to require OctoPlus to issue
additional new shares at the offer price for an amount up to 15% of
the amount of the Offer.
Use of Proceeds
OctoPlus intends to use the net proceeds from the Offer primarily for
the further development of its product pipeline, and for general
corporate purposes including capital expenditures and working
capital. Expenditure on the product pipeline includes supporting a
Phase IIb study for Locteron, and continuing the Phase II clinical
development of OP-145 CSOM, its product for chronic middle ear
infection (chronic suppurative otitis media). In addition, the
proceeds will be used to advance pre-clinical and clinical
development for the three earlier-stage products, OP-286 CR for type
II diabetes and the single-shot vaccines for hepatitis B and Japanese
encephalitis. The Company will also use the proceeds for
manufacturing and material costs for its products.
For further information, please contact:
Rianne Roukema, Corporate Communications: +31 (0) 71 524 1071
About OctoPlus
OctoPlus N.V. is a product-oriented biopharmaceutical company
committed to the creation of improved pharmaceutical products that
are based on OctoPlus' proprietary drug delivery technologies and
have fewer side effects, improved patient convenience and a better
efficacy/safety balance than existing therapies. Rather than seeking
to discover novel drug candidates through early stage research
activities, OctoPlus focuses on the development of long-acting,
controlled-release versions of known protein therapeutics, other
drugs, and vaccines.
Our pipeline consists of 5 products in pre-clinical and clinical
development. Our lead product is Locteron, a controlled-release
formulation of interferon alfa for the treatment of chronic hepatitis
C, which we are co-developing with Biolex Therapeutics. OctoPlus has
completed patient treatment in a Phase IIa clinical study with
Locteron. Furthermore, our pipeline comprises a product candidate for
the treatment of chronic middle ear infection, which is in Phase II
clinical development, a pre-clinical GLP-1 analogue product candidate
for the treatment of diabetes and two pre-clinical-stage single-shot
vaccines.
In addition, OctoPlus is a European leading provider of advanced drug
formulation and clinical scale manufacturing services to the
pharmaceutical and biotechnology industries, with a focus on
difficult to formulate active pharmaceutical ingredients. The
earnings and expertise that we derive from rendering formulation and
manufacturing services help to support our own drug development
programs.
OctoPlus is listed on Euronext Amsterdam under the symbol OCTO. For
more information about OctoPlus, please visit our website
www.octoplus.nl.
This document may contain certain forward-looking statements relating
to the business, financial performance and results of OctoPlus N.V.
and the industry in which it operates. These statements are based on
OctoPlus N.V.'s current plans, estimates and projections, as well as
its expectations of external conditions and events. Forward-looking
statements involve inherent risks and uncertainties and speak only as
of the date they are made. In particular the words "expect",
"anticipate", "predict", "estimate", "project", "plan", "may",
"should", "would", "will", "intend", "believe" and similar
expressions are intended to identify forward-looking statements. We
caution investors that a number of important factors, and the
inherent risks and uncertainties that such statements involve, could
cause actual results or outcomes to differ materially from those
expressed in any forward-looking statements. These factors include,
but are not limited to those discussed under "Risk Factors" in the
prospectus that has been made generally available in the Netherlands
in connection with the Offer. In the event of any inconsistency
between an English version and a Dutch version of this document, the
English version will prevail over the Dutch version.
The contents of this announcement have been prepared by and are the
sole responsibility of OctoPlus. Cowen International Limited, Kempen
& Co N.V. and SNS Securities N.V. are acting exclusively for OctoPlus
and no one else. Cowen International Limited, Kempen & Co N.V. and
SNS Securities N.V. will not be responsible to anyone other than
OctoPlus for providing the protections afforded to their respective
clients, or for advice in relation to the Offer, the contents of this
announcement or any of the matters referred to herein.
The distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain
jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves
about and to observe any such restrictions. This announcement may not
be used for, or in connection with, and does not constitute, any
offer to sell, or an invitation to purchase, any securities.
Any offer to acquire shares pursuant to the proposed Offer is being
made, and any investor should make an investment, solely on the basis
of information that is contained in the prospectus that has been made
generally available in the Netherlands in connection with the Offer.
If the Offer is completed, the final offer price, offer proceeds and
number of shares offered in the Offer will be set forth in the
pricing statement. Copies of the prospectus and the pricing
statement, when made generally available, may be obtained at no cost
from OctoPlus, Kempen & Co N.V. or SNS Securities N.V., or through
the website of Euronext Amsterdam (Dutch residents only).
This announcement is not an offer to sell or the solicitation of any
offer to buy any shares or other securities of OctoPlus (the
"Securities") in the United States or in any other jurisdiction. The
Securities have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States unless
registered under the Securities Act or an exemption from such
registration is available.
The shares have not been and will not be registered under the
applicable securities laws of Australia, Canada or Japan and may not
be offered or sold within Australia, Canada or Japan.
In the United Kingdom, this announcement is directed only at persons
who (i) have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (as amended,
the "Financial Promotion Order"), (ii) are persons falling within
Article 49(2)(a) to (d) ("high net worth companies, unincorporated
associations etc") of the Financial Promotion Order, (iii) are
outside the United Kingdom, or (iv) are persons to whom an invitation
or inducement to engage in investment activity (within the meaning of
section 21 of the Financial Services and Markets Act 2000) in
connection with the issue or sale of any securities may otherwise
lawfully be communicated or caused to be communicated. This document
is directed only at such persons and must not be acted on or relied
on by persons in the United Kingdom who are not such persons. Any
investment or investment activity to which this announcement relates
is available in the United Kingdom only to such persons and will be
engaged in only with such persons and no other persons in the United
Kingdom should rely or act upon this announcement.
All investment is subject to risk. The value of the shares may go
down as well as up. Past performance is no guarantee of future
returns. Potential investors are advised to seek expert financial
advice before making any investment decision.
In connection with the Offer, the Underwriters, through Kempen & Co
N.V. acting as stabilisation manager or its affiliates or agents, may
engage in transactions that have the effect of raising or maintaining
the market price of the shares or preventing or retarding a decline
in the market price of the shares. As a result, the price of the
shares in the open market may be higher than it would otherwise be in
the absence of these transactions. The Underwriters are not required
to enter into such transactions. These transactions may be effected
on the Euronext Amsterdam stock exchange, in the over-the-counter
market or otherwise and, if commenced, may be discontinued at any
time.
