Allschwil, Switzerland, September 10, 2021
Polyphor and EnBiotix announce closing of purchase agreement of Inhaled Murepavadin by EnBiotix
Polyphor (SIX: POLN) and EnBiotix Inc., a privately held late clinical-stage rare disease company currently focused on products for rare, chronic respiratory diseases, today announced closing of the previously announced purchase agreement of inhaled murepavadin. As a result of closing the transaction, Polyphor received the agreed payment of 2'599'655 of common shares of EnBiotix (15.4% fully diluted of EnBiotix) at an agreed valuation of USD 10 million.
Following the closing of the inhaled murepavadin purchase agreement, the companies will take the next steps with respect to the merger agreement, which was signed simultaneously. The planned merger is subject to a number of closing conditions, including approval by Polyphor and EnBiotix shareholders, and is expected to be closed in Q4 2021.
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About Polyphor
Polyphor is a research-oriented Swiss biopharmaceutical company with a leading macrocyclic peptide technology platform. Polyphor is headquartered in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN). www.polyphor.com.
About EnBiotix
Enbiotix is a privately-held, rare disease company with an initial focus on chronic respiratory diseases. EnBiotix is headquartered in Boston, Massachussets, USA with its affiliate, EnBiotix, GmbH based in Leipzig, Germany. www.enbiotix.com
Disclaimer
This press release contains forward-looking statements which are based on current assumptions and forecasts of the Polyphor management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Polyphor's results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Polyphor disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.
