Advicenne Announces Its Intention to List on the Regulated Market of Euronext Brussels
NÎMES, France--(BUSINESS WIRE)--May 23, 2019--
Advicenne (Paris:ADVIC) (Euronext: ADVIC - FR0013296746), a pharmaceutical company specializing in the development of adult and pediatric therapeutic products for the treatment of orphan diseases, today announced its intention to list its shares on the regulated market of Euronext Brussels.
The ordinary shares of Advicenne are currently listed on the Euronext Paris stock exchange and would also be admitted to trading on Euronext Brussels as part of the proposed secondary listing. The company would thus benefit from a cross listing on the two largest Euronext markets for companies in the life sciences sector. The cross listing would have no impact on current shareholders and Euronext Paris remains Advicenne’s primary listing venue.
The proposed cross listing aims to further increase the visibility of Advicenne’s shares in Belgium and beyond and fits well with the ongoing clinical developments of Advicenne in Belgium, where the company is conducting a Phase II/III clinical study with its lead product, ADV7103, for the treatment of cystinuria, a rare nephrological disease.
Mr Paul Michalet, Chief Financial Officer of Advicenne, commented: “The planned cross listing aims to give Advicenne greater visibility among European investors, in turn supporting the liquidity of the shares.”
Dr. Luc-André Granier, Chief Executive Officer and co-founder of Advicenne, concluded: “This project to cross-list our shares on the Euronext Brussels and Paris markets is perfectly in line with our international development strategy. Today, Advicenne is conducting several clinical trials with its lead product ADV7103, including a pivotal Phase II/III study for the treatment of cystinuria for which Belgian Hospitals are important contributors.”
Subject to approval by Euronext and the publication of certain documents, the Advicenne shares will be tradable on the regulated market of Euronext Brussels as from mid-June 2019 with unchanged identification codes (ticker: ADVIC - ISIN code: FR0013296746).
This press release does not constitute an offer to sell or the solicitation to buy the securities mentioned and no sale of such securities will be made in any state or jurisdiction in connection with the proposed cross listing.
Advicenne (Euronext: ADVIC) specializes in pediatric-friendly therapeutics for the treatment of orphan diseases. The French specialty pharmaceutical company’s lead product, ADV7103, has achieved positive results in Europe in a pivotal Phase III study of distal Renal Tubular Acidosis (dRTA) in children and adults, leading to its recent submission for European marketing authorization. The commercial launch of ADV7103 in Europe is anticipated for late-2020.
In North America, ADV7103 has received clearance from the US FDA and Health Canada for a pivotal Phase III clinical trial for the treatment of dRTA patients. Commercial launch in the United States is anticipated for 2021.
In addition to dRTA, ADV7103 is currently in Phase III clinical studies for a second indication, cystinuria, an inherited renal tubulopathy.
Advicenne is listed on the Euronext Paris stock exchange (ISIN: FR0013296746; Euronext ticker: ADVIC). Established in 2007, the company is headquartered in Nîmes, France.
This press release contains certain forward-looking statements relating to the business of Advicenne, which shall not be considered per se as historical facts. Such statements include estimates for future performance and estimates regarding anticipated operating losses, future revenues, capital requirements and needs for additional financing. In some cases, forward-looking statements can be identified by words such as “could,” “should,” “may,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “aims,” “targets” or similar words. Although the management of Advicenne believes that these forward-looking statements are reasonably made, they are based largely on the current expectations of Advicenne as of the date of this press release and are subject to a number of known and unknown risks and uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. In particular, the expectations of Advicenne could be affected by, among other things, uncertainties involved in the placing on the market and commercialization of Advicenne products or any other risks and uncertainties developed or identified in any public documents filed by Advicenne with the French Financial Markets Authority ( Autorité des marchés financiers (AMF)), including those listed in Chapter 4, “Risk Factors,” of its reference document, filed with the latter on December 3, 2018, under number R.18-073 and in section 8 of its financial annual report published on April 30, 2019. Notwithstanding the compliance with article 223-1 of the General Regulation of the AMF (the information disclosed must be “accurate, precise and fairly presented”), Advicenne disclaims any intention or 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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KEYWORD: LUXEMBOURG BELGIUM EUROPE NETHERLANDS FRANCE
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PUB: 05/23/2019 11:45 AM/DISC: 05/23/2019 11:45 AM