ORYZON raises €12 million and signs a financing agreement with COFIDES to strengthen its balance sheet and accelerate its clinical programs
Priced at €2.70 per share, representing a 14.15% discount on the five day VWAP and a 12.68% discount to the June 30 closing price.
Oryzon Genomics, a clinical-stage biopharmaceutical company and a global leader in epigenetics, today announced the successful completion of a €12 million gross capital increase through the issuance of 4,444,445 new ordinary shares, at a subscription price of €2.70 per share. This pricing represents a 14.15% discount to the five-day volume-weighted average price (VWAP), which was €3.1449, and a 12.68% discount to the June 30 closing price of €3.092 per share. The offering was structured as a capital increase without the issuance of warrants. Singular Bank acted as placement agent in Spain, and All-Invest acted as placement agent in the EU and the UK. Banco Sabadell, S.A. acted as Agent Bank and Technical Pre Financing Entity for the capital increase, while Gómez-Acebo & Pombo Abogados, S.L.P. acted as legal counsel to the Company.
The funds raised will be used to:
- Strengthen the Company's balance sheet to support corporate development initiatives in anticipation of future partnership discussions.
- Advance the clinical development of iadademstat for the treatment of acute myeloid leukemia.
- Progress the other ongoing clinical programs in hematology and psychiatry.
- Cover general and administrative expenses and financial obligations.
Dr. Carlos Buesa, Chief Executive Officer of Oryzon, said: "This funding comes at a particularly important time for Oryzon and strengthens our ability to execute our clinical strategy with greater confidence. The progress of our acute myeloid leukemia program is attracting increasing attention across the international 1 oncology ecosystem, including among leading experts, pharmaceutical companies, and specialized investors. With this support, we gain financial flexibility to accelerate our priority programs while continuing to explore strategic opportunities that can maximize the value of our platform.”
Agreement with the Social Impact Fund managed by COFIDES
Oryzon has also entered into a share subscription agreement with the Social Impact Fund, managed by Compañía Española de Financiación del Desarrollo (COFIDES), S.A., S.M.E., and attached to the Ministry of Inclusion, Social Security and Migration, under Spain's Recovery, Transformation and Resilience Plan, financed by the European Union through the NextGenerationEU programme.
Under the terms of the agreement, the Social Impact Fund has committed, as an anchor investor, to subscribe in the future for newly created Oryzon shares for a total investment amount (nominal plus issue premium) of €25 million, subject to certain corporate, financial, business, and impact-related conditions.
This commitment will apply to any future capital increase that Oryzon may undertake within six months of the execution of the share subscription agreement. This period may be extended by mutual agreement between the parties. The Company has undertaken to use the proceeds to fund research and development activities directly or indirectly related to the development of products in the field of the central nervous system, as well as in oncology and hematology. In addition, at least 40% of the proceeds must be allocated to the development of medicines addressing unmet medical needs in mental health, in particular to the Company's program in borderline personality disorder and other psychiatric conditions.
Dr. Buesa added: "The partnership with COFIDES' Social Impact Fund represents far more than a financial commitment; it is a recognition of the transformative potential of our mental health programs. The validation of this project by such a prestigious institution—from scientific, business, and social impact perspectives—reinforces our conviction that Oryzon can play a significant role in an area where unmet medical needs remain substantial. This agreement enhances our credibility, raises our visibility, and strengthens our ability to accelerate the development of innovative therapies for psychiatric disorders. Having a prestigious institutional partner with international standing further reinforces the project's credibility and facilitates engagement with specialized international investment funds.”