Cambridge, UK and Indianapolis, US – 16 July 2020: Acacia Pharma Group plc (the "Company”) (EURONEXT: ACPH), a commercial stage biopharmaceutical company focused on developing and commercializing novel products to improve the care of patients undergoing serious medical treatments such as surgery, invasive procedures, or chemotherapy, announces that application has been made to Euronext Brussels for the admission of 4,923,811 Ordinary Shares of £0.02 each (the “New Ordinary Shares”) to trading on Euronext Brussels ("Admission").
The New Ordinary Shares are being issued by the Company at a price of €3.046 per share following approval of BYFAVO™ by the US Food and Drug Administration ("FDA") pursuant to the terms of the BYFAVO™ sub-licensing agreement with Cosmo Technologies Limited ("Cosmo"). In addition, the Company will also make a payment to Cosmo of €15 million in cash pursuant to the BYFAVO™ sub-licensing agreement following FDA approval of BYFAVO™. As announced on 15 July 2020, the US licensing rights to BYFAVO™ have been directly assigned by Cosmo to the Company.
The New Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares in issue. Admission is expected later today.
Following issue of the New Ordinary Shares, the Company's total issued share capital will consist of 72,779,729 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, following the issue of the New Ordinary Shares, the total number of voting rights in the Company is 72,779,729.
Acacia Pharma Group plc
Mike Bolinder, CEO
Gary Gemignani, CFO
+44 1223 919760 / +1 317 505 1280
Citigate Dewe Rogerson (Financial PR)
Mark Swallow, Frazer Hall, David Dible
+44 20 7638 9571