Paris, 11 October 2013 – Hybrigenics (ALHYG), a bio-pharmaceutical company listed on Alternext (NYSE-Euronext) in Paris, with a focus on research and development of new treatments of proliferative diseases and specialised in protein interactions, today announces the acquisition of the genomic activities of Imaxio and a EUR 1.3 million fund raising through a private placement reserved to Pradeyrol Development.
Based in the Clermont-Limagne Biopole, near Clermont-Ferrand (France), the genomics unit of Imaxio performs fee-for-service studies specialized in extracting and sequencing DNA or RNA to get information on the genome and gene expression from any living organism, in normal or pathological conditions. This information is crucial in many applications such as the diagnosis of genetic disease, the profiling of cancers to choose the right treatment (the so-called “personalized medicine”), the direct identification of bacterial or viral strains, or the characterization of improved plant cultivars.
More specifically, the genomics division of Imaxio is one of the few European service provider scertified by Agilent to perform its SureSelect® target enrichment, comparative genomic hybridization (CGH) and microRNA microarrays technologies. It also operates an Illumina® next generation sequencing and genotyping platform. Thanks to these new technologies, the genomic information becomes more and more accessible both in terms of time and cost. This technological trend is driving the strong growth of the genomic business. With the acquisition of the genomics unit of Imaxio, Hybrigenics is entering this fast-growing market, with the same high-quality fully-integrated customer-oriented policy, which is already the hallmark of Hybrigenics Services’ proteomics activities.
The financial terms of the acquisition are not disclosed. To finance the future growth of the genomic services, Hybrigenics has received EUR 1.3 million through a private placement from Pradeyrol Development (PRD), a family office and majority shareholder of Imaxio. With 2.5 million newly issued shares representing 11.4% of Hybrigenics’ capital, PRD becomes Hybrigenics’ reference shareholder and is granted one Observer seat on Hybrigenics’ Board of Directors.
“The acquisition of the genomics division of Imaxio gives Hybrigenics a foothold in the booming market of genomic services and the investment by Pradeyrol Development is providing resources to develop this new business. In addition, commercial synergies with Hybrigenics Services’ proteomics activities will be fostered,” said Remi Delansorne, Hybrigenics’ CEO.
“We are very happy with this transaction for three reasons: firstly, it will allow the genomics activity of Imaxio to accelerate its growth, secondly it will allow Imaxio to focus on one core business which is immunology, and finally it allows Pradeyrol Development to become a reference shareholder in Hybrigenics,” said Dr. Pradeyrol.
About Pradeyrol Development
Pradeyrol Development is a family office that invests in firms with great innovative potential, especially in the biotechnology sector where it aims at taking significant minority shares. Pradeyrol Développement entrusted Alexandre Le Vert (the CEO of Imaxio) with the task of broadening its Biotechnology portfolio by investing in companies mostly positioned in Immunology or Personalized Diagnostics and with respected management.
Hybrigenics (www.hybrigenics.com) is a bio-pharmaceutical company listed (ALHYG) on Alternext (NYSEEuronext) in Paris, focusing its internal R&D programs on innovative targets and therapies for the treatment of proliferative cancerous or non-cancerous diseases.
Hybrigenics’ current development program is based on inecalcitol, a vitamin D receptor agonist active by oral administration. Oral inecalcitol has shown excellent tolerance and strong presumption of efficacy for the first-line treatment of metastastic castrate-resistant prostate cancer in combination with Taxotere®, which is the current gold-standard chemotherapeutic treatment for this indication. Oral inecalcitol is currently being tested in chronic lymphocytic leukemia patients.
Hybrigenics has a research collaboration with Servier on deubiquitinating enzymes and their inhibitors in oncology, neurology, psychiatry, rheumatology, ophthalmology, diabetes and cardiovascular diseases. Hybrigenics continues to build on its pioneer research position in the field of ubiquitin-specific proteases by exploring their role in other areas of particular relevance, such as inflammation and virology.
Hybrigenics Services (www.hybrigenics-services.com), a fully-owned subsidiary, is the market leader in Yeast Two-Hybrid (Y2H) and related services to identify, validate and inhibit protein interactions for researchers in all areas of life sciences, using its ISO 9001-certified high-throughput Y2H screening platform, its sophisticated bioinformatics tools and extensive database, along with its chemical library and chemical screening platform.
HYBRIGENICS is listed on the Alternext market of NYSE Euronext Paris
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This press release contains certain forward-looking statements concerning Hybrigenics and its business. Such forwardlooking statements are based on assumptions that Hybrigenics considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks and to the development of economic conditions, financial markets and the markets in which Hybrigenics operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Hybrigenics or not currently considered material by Hybrigenics. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Hybrigenics to be materially different from such forward-looking statements.
This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation ofan offer to purchase or subscribe for, Hybrigenics shares in any country.
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