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Erytech wants to raise EUR 50 million after the euphoria born of a recent ad

The biopharmaceutical company Erytech Pharma Lyon will enjoy the euphoria of his recent announcement of a breakthrough therapy to solicit investors, from which it hopes to raise 50 million.

This fundraiser will be by private placement to US and European investors, the company said, without specifying how.

The sums raised will be used primarily to finance the pre-launch of a Phase III study (involving a large number of patients) the effectiveness of its lead compound "eryaspase" (trade name: Graspa) in the fight against formidable pancreatic cancer.

In late March, Erytech announced that clinical studies on a smaller sample of patients (study called Phase IIb) had yielded results "positive" for the treatment of metastatic pancreatic cancer when the reference treatment failure.

The use of Graspa coupled with chemotherapy makes it possible "significant progress both in terms of progression-free survival (disease) and overall survival in patients", had explained biotech.

Doctors are particularly disadvantaged in their fight against this type of very aggressive cancer, the announcement caused a surge in the stock exchange. In one session, the share had jumped Erytech 75 25% to euro.

Wednesday evening, the title was worth 24,90 euros (-4,16%), which valued the company at 217 million.

In early December, Erytech had already conducted a private placement of securities from US and European investors who had allowed it to raise 10 million.

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