ASIT biotech Shareholders Meeting Has Approved the Structure of the Next Financing Round

13 Dec

ASIT biotech, a Belgian clinical-stage biopharmaceutical company focused on the research, development and future commercialization of breakthrough immunotherapy products for the treatment of allergies, announces the approval, by the Shareholders Meeting held on December 7, 2017, of the issuance of a maximum of 3 million new shares, at the price of €3.83 per share.

Each subscriber of one new share will be granted, for free, two warrants enabling the subscription to two new shares at the price of €3.83 per share. The first warrant will expire on June 30, 2018, and the second on December 31, 2019. The second warrant may only be exercised if the first warrant has been prior exercised. The warrants are not transferable.

The exercise of these warrants, if any, will increase the Company’s share capital and support the development of its research and clinical activities.

The funds raised in the framework of this share subscription will be assigned in priority to the development of new products against allergies to dust mites, peanuts, cow’s milk and egg white as well as to the establishment of the Phase III trial with gp-ASIT+™ to be performed in H1 2019.

Thierry Legon, CEO of ASIT biotech, commented: “I am very happy that our EGM has approved the structure of the proposed financing. It will enable us to continue our development plan at the required pace. I am confident that we will be able to proceed with the placement of new shares shortly.

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About ASIT biotech

ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialisation of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+™ technology platform, ASIT biotech is currently the only developer of AIT product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech’s product pipeline entails two novel ASIT+™ product candidates targeting respiratory allergy with the highest prevalence (i.e. grass pollen: gp-ASIT+™ and house dust mite: hdm-ASIT+™), that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+™ platform is flexible and would be applicable across a range of allergies.

ASIT biotech has a headcount of 22 staff members, at its headquarters in Brussels and a laboratory in Liège, Belgium.

Further information can be found at: www.asitbiotech.com.

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