Update: Private placement to pursue Graspa strategy
The recent €25.4m private placement provides Erytech with a healthy cash balance, which should allow effective execution on the strategy to advance and accelerate Graspa/Eryasp in the US, to move development into front-line ALL (acute lymphoblastic leukaemia) and to continue pursuing new indications. Two-year follow up ALL data for Graspa were recently presented at ASH, reinforcing its potential as an effective, safe therapy for patients with few options in this indication. Our valuation is increased to €324.9m with the higher cash balance.Erytech Pharma is a pharmaceutical company based in France. Co. is primarily engaged in developing cancer therapies that work by starving tumors. Co.'s first product (ERY-ASP), which is in phase III development, provides a therapeutic solution to frail patients with acute leukemia. Co.'s proprietary technology is based on encapsulation of therapeutic molecules into red blood cells. Co. maintains a production unit located in Lyons with "Pharmaceutical Establishment" status. Co. has also signed two distribution partnership agreements with the Orphan Europe-Recordati company and the TEVA group.
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