ORYZON announces a New Financing through a Convertible Bond Program for a total amount of up to €45 million

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 new convertible bonds financing agreement with Nice & Green in bonds convertible into new shares for a total amount of €45 Million. The financing program consists of several tranches of up to €5 million each to be drawn at the discretion of Oryzon, subject to customary conditions and to the progress of the ongoing clinical trials and the liquidity of the Oryzon share.

The Convertible Notes (CN) have a maturity of 48 months, zero interest rate, and have no warrants associated. The conversion price at which the new shares shall be issued will be 94% (ninety-four percent) of the average 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 a premium of 3%.

Dr. Carlos Buesa, Oryzon’s CEO, said: "The current macroeconomic head-winds are a challenge for the stock markets, and the biotechnological sector has been particularly affected. In this unpredictable market situation, we are excited to have secured this financial support from Nice & Green. This funding allows us to strengthen our balance sheet, extend our cash runway, and laser focus on the final execution of PORTICO, our vafidemstat’s Phase 2b in Borderline Personality Disorder. We expect PORTICO Topline data in 1Q2024, and if positive, we believe it may be a transformational event for the company. This Financing is relevant in a moment that we plan to start a structured dialogue with industry partners in an indication with multibillion-dollar potential.”

Marc Cattelani, CEO of Nice & Green, stated: “We are pleased 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 in the near and long term."