BARCELONA, Spain and CAMBRIDGE, Mass., May 4, 2016 /PRNewswire/ -- Oryzon Genomics (ISIN Code: ES0167733015), a clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in oncology and neurodegenerative diseases, has announced that it has closed a Debt Funding round of 10.5 Million Euros (12.1 Million USD), completing this way a Global Funding since July 2015 of 27 Million Euros (31.1 Million USD).
The round has been subscribed by several Spanish commercial banks in the form of long term loans at the current interest rates in the Spanish bank market. Mr. Enric Rello, CFO of the company, has declared: "These funds complement the capital increase that the company made upon its listing on the Spanish Market, and are a key component to our strategic Financial Plan." "This round also confirms the support of Spanish investors and bank institutions to the Biotech Sector in general and to Oryzon programs' in particular. These funds will be important to further advance our clinical programs in Alzheimer's disease and in other devastating diseases."
The company has currently two programs in clinical stage with different LSD1 inhibitors in cancer and neurodegeneration. Oryzon started recently a Phase I of its oral LSD1-MAOB dual inhibitor ORY-2001 in healthy subjects. With a successful study outcome, ORY-2001 is expected to proceed to a Phase II study in Alzheimer's disease patients in 1H 2017.
Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field and a clinical asset already partnered with Roche. Oryzon's LSD1 program is currently covered by 20 patent families and has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon's strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or outlicense the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com.
This communication contains forward-looking information and statements about Oryzon Genomics, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates" and similar expressions. Although Oryzon Genomics, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Oryzon Genomics, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Oryzon Genomics, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Oryzon Genomics, S.A. to the Comisión Nacional del Mercado de Valores, which are accessible to the public. Forward-looking statements are not guarantees of future performance. The auditors of Oryzon Genomics, S.A, have not reviewed them. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Oryzon Genomics, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Oryzon Genomics, S.A. on the date hereof. Except as required by applicable law, Oryzon Genomics, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Oryzon Genomics