ERYTECH and PHERECYDES announce merger and name change to PHAXIAM Therapeutics
Tuesday, June 27, 2023
ERYTECH (Nasdaq & Euronext: ERYP) and PHERECYDES announce merger and name change to PHAXIAM Therapeutics, a clinical-stage biopharmaceutical company developing innovative extended bacteriophage therapies to target antimicrobial resistance (AMR).
“In February this year, we announced our strategic plans with PHERECYDES, with the intent to build a global leader in phage therapy and address the huge medical need caused by antimicrobial resistance. I am very pleased that this merger has now been approved with a large majority by our shareholders”, said Gil Beyen, former Chief Executive Officer of ERYTECH. “I am now passing the lead to Thibaut Du Fayet as the new CEO and wish him and the entire management team success in implementing PHAXIAM’s ambitious strategy. I take the occasion to thank all current and former ERYTECH employees and fellow board members for their dedication and enthusiasm for our project over the past 10 years.”
“I am very proud to have the opportunity to continue the PHERECYDES project within PHAXIAM therapeutics and to be able to deploy it more widely by capitalizing on the skills and talents of all ERYTECH and PHERECYDES employees; Our ambition is to strengthen PHAXIAM therapeutics' competitive position as an undisputed leader in phage therapy worldwide, serving patients”, said Thibaut du Fayet, incoming Chief Executive Officer of PHAXIAM.
The combination will draw on the complementary expertise and resources of the two companies to accelerate the development of a global phage therapy portfolio, aimed at combating antimicrobial resistance (AMR), a globally recognized health issue. AMR is currently responsible for more than one million deaths per year worldwide and is expected to grow to more than 10 million annual casualties by 2050. For reference, the estimated worldwide number of cancers is currently around 10 million per year.
PHAXIAM is based in Lyon, France, where the company benefits from the presence in a major European hub for infectious diseases. The company will furthermore leverage ERYTECH’s US presence to facilitate access to US investors and to clinical and regulatory stakeholders in the perspective of upcoming clinical developments.
PHAXIAM is listed on the Nasdaq Global Select Market in the United States and on the Euronext regulated market in Paris (Ticker: ERYP being changed to a new one). A 10 for 1 reverse stock split was approved by ERYTECH’s shareholders and is expected to be implemented in the coming months.
About PHAXIAM Therapeutics
PHAXIAM is a biopharmaceutical company developing innovative treatments for resistant bacterial infections, which are responsible for many serious infections. The company is building on an innovative approach based on the use of phages, natural bacterial-killing viruses. PHAXIAM is developing a portfolio of phages targeting 3 of the most resistant and dangerous bacteria, which together account for more than two-thirds of resistant hospital-acquired infections: Staphylococcus aureus, Escherichia coli and Pseudomonas aeruginosa.
PHAXIAM is listed on the Nasdaq Global Select Market in the United States (ticker: ERYP – to be modified to a new symbol) and on the Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP). PHAXIAM is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes.
For more information, please visit www.erytech.com
Contacts
PHAXIAM
Eric Soyer
COO & CFO
+33 4 78 74 44 38
investors@erytech.com
NewCap
Mathilde Bohin / Louis-Victor Delouvrier
Relations investisseurs
Nicolas Merigeau
Relations MeĢdias
+33 1 44 71 94 94
erytech@newcap.eu
