Amryt Pharma plc Amryt Announces $40m Private Placement With Leading Biotech Investors

 
TIDMAMYT 
 
   Amryt Announces $40m Private Placement with Leading Biotech Investors 
 
   DUBLIN, Ireland, and Boston MA, December 8, 2020, Amryt (Nasdaq: AMYT, 
AIM: AMYT), a global, commercial-stage biopharmaceutical company 
dedicated to developing and commercializing novel therapeutics to treat 
patients suffering from serious and life-threatening rare diseases, 
announced today that it has entered into  securities purchase agreements 
with several institutional accredited investors for the private 
placement of 3,200,000 American Depositary Shares ("ADSs"), each 
representing five ordinary shares, at a purchase price of $12.50 per ADS, 
yielding expected gross proceeds of $40 million. The private placement 
includes a mix of new and existing investors including Stonepine Capital, 
LP, Aquilo Capital Management, LLC, Amati Global Investors, Athyrium 
Capital Management, LP and Highbridge Capital Management, among others. 
 
   Proceeds from the private placement will be used for working capital and 
general corporate purposes, as well as to potentially acquire, 
in-license or invest in rare disease technologies, products, businesses 
or assets. 
 
   SVB Leerink acted as lead placement agent to the Company in connection 
with the private placement. Cantor Fitzgerald and Canaccord Genuity 
acted as co-placement agents. 
 
   The securities to be sold in the private placement have not been 
registered under the Securities Act of 1933, as amended, (the 
"Securities Act"), or any state or other applicable jurisdiction's 
securities laws, and may not be offered or sold in the United States 
absent registration or an applicable exemption from the registration 
requirements of the Securities Act and applicable state or other 
jurisdictions' securities laws. The Company has agreed to file a 
registration statement with the U.S. Securities and Exchange Commission 
registering the resale of the ADSs issued and sold in the private 
placement. 
 
   This press release shall not constitute an offer to sell or the 
solicitation of an offer to buy these securities, nor shall there be any 
offer, solicitation or sale of these securities in any jurisdiction in 
which such offer, solicitation or sale would be unlawful. Any offering 
of the ADSs under the resale registration statement will only be made by 
means of a prospectus. 
 
   The Company has applied for the ordinary shares issued pursuant to this 
transaction to be admitted to trading on AIM.  Admission is expected on 
December 15, 2020.  Post this transaction and following the admission of 
the new ordinary shares to AIM, the issued share capital of the Company 
will comprise 183,593,296 Ordinary Shares (equivalent to 36,718,659 
ADSs). The Company holds 4,791,703 Ordinary Shares in treasury. 
Therefore, the total number of voting rights in the Company is 
178,801,593.  This figure may be used by shareholders as the denominator 
for the calculation by which they will determine if they are required to 
notify their interest in, or a change to their interest in, the Company 
under the FCA's Disclosure Guidance and Transparency Rules. The Company 
will also have in issue 8,966,520 zero cost warrants. 
 
   About Amryt 
 
   Amryt is a biopharmaceutical company focused on developing and 
delivering innovative new treatments to help improve the lives of 
patients with rare and orphan diseases. Amryt comprises a strong and 
growing portfolio of commercial and development assets. 
 
   Amryt's commercial business comprises two orphan disease products. 
 
   Amryt's lead development candidate, FILSUVEZ(R) is a potential treatment 
for the cutaneous manifestations of EB, a rare and distressing genetic 
skin disorder affecting young children and adults for which there is 
currently no approved treatment.  In September and October 2020, Amryt 
reported positive results from its pivotal global phase 3 trial of 
FILSUVEZ(R) in EB.  FILSUVEZ(R) has been granted Rare Pediatric Disease 
Designation and has also received a Fast Track Designation from the U.S. 
Food and Drug Administration. 
 
   Myalept(R) / Myalepta(R) (metreleptin) is approved in the US (under the 
trade name Myalept(R)) as an adjunct to diet as replacement therapy to 
treat the complications of leptin deficiency in patients with congenital 
or acquired generalized lipodystrophy (GL) and in the EU (under the 
trade name Myalepta(R)) for the treatment of leptin deficiency in 
patients with congenital or acquired GL in adults and children two years 
of age and above and familial or acquired partial lipodystrophy (PL) in 
adults and children 12 years of age and above for whom standard 
treatments have failed to achieve adequate metabolic control. 
Metreleptin is also approved for lipodystrophy in Japan. Generalised and 
partial lipodystrophy are rare disorders characterised by loss or lack 
of adipose tissue resulting in the deficiency of the hormone leptin, 
produced by fat cells and are associated with severe metabolic 
abnormalities including severe insulin resistance, diabetes, 
hypertriglyceridemia and fatty liver disease. 
 
   Juxtapid(R)/ Lojuxta(R) (lomitapide) is approved as an adjunct to a 
low-fat diet and other lipid-lowering medicinal products for adults with 
the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia 
("HoFH") in the US, Canada, Columbia, Argentina and Japan (under the 
trade name Juxtapid(R)) and in the EU (under the trade name Lojuxta(R)). 
HoFH is a rare genetic disorder which impairs the body's ability to 
remove low density lipoprotein ("LDL") cholesterol ("bad" cholesterol) 
from the blood, typically leading to abnormally high blood LDL 
cholesterol levels in the body from before birth - often ten times more 
than people without HoFH - and subsequent aggressive and premature 
cardiovascular disease. 
 
   In March 2018, Amryt in-licensed a pre-clinical gene-therapy platform 
technology, AP103, which offers a potential treatment for patients with 
Recessive Dystrophic Epidermolysis Bullosa, a subset of EB, and is also 
potentially relevant to other genetic disorders.  For more information 
on Amryt, including products, please visit www.amrytpharma.com. 
 
   This announcement contains inside information for the purposes of 
article 7 of the Market Abuse Regulation (EU) 596/2014.  The person 
making this notification on behalf of Amryt is Rory Nealon, CFO/COO and 
Company Secretary. 
 
   Cautionary Note Regarding Forward-Looking Statements 
 
   This press release contains forward-looking statements within the 
meaning of The Private Securities Litigation Reform Act of 1995. Such 
forward-looking statements include, but are not limited to, those 
regarding the anticipated use of proceeds from the private placement; 
the filing of a registration statement to register the resale of the 
ADSs issued and sold in the private placement; and the Company's plans, 
strategies and prospects for its business. All statements, other than 
statements of historical facts, contained in this press release, 
including statements regarding the Company's strategy, future operations, 
future financial position, prospects, plans and objectives of management, 
are forward-looking statements. Statements containing the words "expect", 
"anticipate", "intends", "plan", "estimate", "aim", "forecast", 
"project" and similar expressions (or their negative) identify certain 
of these forward-looking statements. The forward-looking statements in 
this announcement are based on numerous assumptions and Amryt's present 
and future business strategies and the environment in which Amryt 
expects to operate in the future. Forward-looking statements involve 
inherent known and unknown risks, uncertainties and contingencies 
because they relate to events and depend on circumstances that may or 
may not occur in the future and may cause the actual results, 
performance or achievements to be materially different from those 
expressed or implied by such forward-looking statements. These 
statements are not guarantees of future performance or the ability to 
identify and consummate investments. Many of these risks and 
uncertainties relate to factors that are beyond each of Amryt's ability 
to control or estimate precisely, such as future market conditions, the 
course of the COVID-19 pandemic, currency fluctuations, the behaviour of 
other market participants, the outcome of clinical trials, the actions 
of regulators and other factors such as Amryt's ability to obtain 
financing, changes in the political, social and regulatory framework in 
which Amryt operates or in economic, technological or consumer trends or 
conditions. Past performance should not be taken as an indication or 
guarantee of future results, and no representation or warranty, express 
or implied, is made regarding future performance. No person is under any 
obligation to update or keep current the information contained in this 
announcement or to provide the recipient of it with access to any 
additional relevant information that may arise in connection with it. 
Such forward-looking statements reflect the Company's current beliefs 
and assumptions and are based on information currently available to 
management. 
 
   Contacts 
 
   Joe Wiley, CEO, [phone], [e-mail] 
https://www.globenewswire.com/Tracker?data=I6X4lJOgpgGZoCzI91jPa2-P10G7AMtNpT3i2k7z5yz0YLbDZTaKLATzwcu6K_oWyaiqjn2DiJgfB6-UoSDxsupd14UO0GroxdxhT-t20GmhYQTx97oPwqlpbm2cnj9r 
 
 
   Rory Nealon, CFO/COO, [phone], [e-mail] 
https://www.globenewswire.com/Tracker?data=3ASUvyybRu_0ld6xtzifby_IAtDwHeQLWAM-eIIXvznp45wRn94iblbjr7EHy3jZ4qNRcs_VQCYA5APDk3jBuo780134g2Mx9PbFIOXaKYyHVs6GDewhlJdu3R3nABuF 
 
 
   Edward Mansfield, Shore Capital, NOMAD, [phone], 
[e-mail] 
 
   Tim McCarthy, LifeSci Advisors, LLC, [phone], 
[e-mail] 
https://www.globenewswire.com/Tracker?data=Hg6_LarN1B3fQ5HQuAsadhoRflU3-2i6y6kRBCpfMJBbz-q3HBTLtn_rAINtcINGI5LQE2CeinzTLe8CsW461gIKDyoyEyb2TNLRj07Pm1w= 
 
 
   Amber Fennell, Consilium Strategic Communications, [phone], 

[e-mail] 
https://www.globenewswire.com/Tracker?data=4jlPcdyp33giwbD0HGRRp8JXBc_MB-1VxD9aRfo4beol087mGU7CuUNcCkY4H_v9PNHU3SQg7ncxSNNk08ac7oRI5y23eaqfNcjoBgpJ2qTBhDF3qs4oX_IdVSo55JUx 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

December 08, 2020 02:00 ET (07:00 GMT)

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