Hyloris Pharmaceuticals Announces Intention to Launch an Initial Public Offering on Euronext Brussels

Liège, Belgium – June 3, 2020: Hyloris Pharmaceuticals SA (“Hyloris”, the “Company”), an early-stage innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals, announces today its intention to raise new funds through an Initial Public Offering (“IPO”) with admission of its shares to trading on the regulated market of Euronext Brussels (the "Offering").

Company Highlights:

·         Focused on developing proprietary reformulated products it believes offer significant advantages compared to currently available alternatives, with the aim to address underserved medical needs and add value to the overall healthcare system

• Idea generator enabling the continuous identification of new product opportunities 

·         Strong product development engine that reformulates and brings product candidates to the market in a capital efficient manner, with a clear focus on the FDA’s 505(b)(2) regulatory pathway for pharmaceuticals where safety and efficacy of the molecule have been established, providing Hyloris with the potential to:

-       Reduce the clinical burden required to bring a product to the market

-       Significantly shorten the development timelines and reduce costs and risks

·         Diversified portfolio of two early stage commercial products and 12 product candidates in various stages of development, offering sales growth potential:

-       The product portfolio has a particular focus on IV cardiovascular products, but also contains other reformulation products and established market products (high-barrier generics)

-       Maxigesic® IV and Sotalol IV are anticipated as primary drivers of short-term revenue growth until additional products are launched

• To date, Hyloris’ operations have consisted primarily of the identification of product candidates to build its pipeline and the formulation, testing and development of its existing portfolio.

·         Led by an experienced management team that has a wealth of experience and knowledge in the fields of drug identification and development. Hyloris’ management team combines more than 100 years of experience in managing and growing pharma companies that develop drugs and bring them to the market

Stijn Van Rompay, Chief Executive Officer and co-founder of Hyloris, commented: “Hyloris’ goal is to bring reformulated drugs with added value to the healthcare system as quickly as possible and we are excited to announce our intention to float on Euronext Brussels to support us in achieving this. We believe that there are significant opportunities to address unmet needs, utilizing the established 505(b)(2) pathway, by developing proprietary products that can offer significant advantages compared to currently available alternatives. Our team has extensive expertise and experience in the pharmaceutical industry, and we believe we are distinctly placed to select and develop the right product candidates to deliver significant value to patients, physicians, payors and other stakeholders in the healthcare system.”     

“The IPO is expected to provide us with the resources needed to finance the development of our existing portfolio of product candidates, as well as establish a commercial infrastructure in the United States for our IV Cardiovascular portfolio (excl. Sotalol IV, which is commercialized through a partner), where we will focus on addressing prescribers in a cost-efficient manner by concentrating on specialized care facilities such as hospitals. The IPO is also expected to support us in further expanding our portfolio in the years to come.”

Stefan Yee, Chairman of Hyloris, added: “Going public will be an important step forward in Hyloris’ journey, as we seek to drive the development, commercialization and expansion of our strong pipeline. As a Belgian company, a listing on Euronext Brussels is a good strategic fit for Hyloris, providing us with an excellent financial ecosystem to broaden our shareholder base and lay solid foundations for future growth.”

Hyloris intends to use the net proceeds of the Offering to fund:

·         The development of the existing portfolio of product candidates

·         The establishment of a commercial team in the U.S. for Hyloris’ IV Cardiovascular Portfolio (excl. Sotalol IV, which is commercialized through a partner)

·         The expansion of its product pipeline both internally and through business development opportunities

·         General corporate purposes

The Offering

Subject to the approval of the prospectus by the Belgian Financial Services and Markets Authority ("FSMA") and market conditions, it is expected that the price range, as well as other details of the Offering will be published when the Offering period is expected to commence. After its approval, which approval should not be understood as an endorsement of the securities offered by the FSMA, the prospectus is expected to be made available at the Company's registered office and on the websites of Hyloris Pharmaceuticals (www.hyloris.com) and KBC Securities NV/SA (www.kbc.be/hyloris, www.bolero.be/nl/hyloris and www.kbcsecurities.com).

The Offering is expected to consist of: (i) an offer to the public (as defined in Article 2(d) of the Prospectus Regulation) in Belgium; (ii) a private placement in the European Economic Area (other than Belgium) exclusively to “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation; (iii) a private placement in Switzerland exclusively to “qualified investors” within the meaning of the Collective Investment Schemes Act (CISA); and (iv) a private placement in the United States to persons who are reasonably believed to be “QIBs” (as defined in Rule 144A under the U.S. Securities Act), in reliance on Rule 144A. All aforementioned “qualified investors” and QIBs are collectively being referred to as Institutional Investors. The Offering outside the United States will be made in compliance with Regulation S under the U.S. Securities Act.

KBC Securities and Kempen & Co are acting as Joint Global Coordinators and Joint Bookrunners.