November 24, 2006: Santhera announces exercise of over-allotment option
Liestal, Switzerland - Santhera Pharmaceuticals (SWX: SANN), a Swiss specialty pharmaceutical company with a focus on neuromuscular diseases, today announced that Deutsche Bank, Global Co-ordinator and Lead Manager for its initial public offering (IPO), has fully exercised its option to subscribe for an additional 147,579 newly issued registered shares at the offering price of CHF 90 per share to cover over-allotments ("greenshoe").
Following the exercise of this option, the aggregate gross proceeds to Santhera from the IPO are approximately CHF 101.8 million. The ordinary share capital of Santhera Pharmaceuticals Holding AG now consists of 3,099,156 shares corresponding to a market capitalization at the offering price of approximately CHF 278.9 million.
Barbara Heller, Santhera's Chief Financial Officer, said: "The timely and full exercise of the over-allotment option highlights again the quality of support for our IPO among a broad range of international investors. The additional funding resulting from the greenshoe will further support us in reaching our goal of becoming a leading specialty pharmaceutical company focused on neuromuscular diseases."
Santhera Pharmaceuticals (SWX: SANN) is a Swiss specialty pharmaceutical company focusing on the discovery, development and marketing of small molecule pharmaceutical products for the treatment of severe neuromuscular diseases. Santhera's vision is to become a leading specialty pharmaceutical company offering therapies for a number of indications in this area of high unmet medical need which includes many orphan indications with no current therapy.
Santhera currently has four clinical-stage development programs, three of which are investigating its lead compound, SNT-MC17/idebenone, in the treatment of Friedreich's Ataxia (FRDA), Duchenne Muscular Dystrophy (DMD) and Leber's Hereditary Optic Neuropathy (LHON). The fourth clinical program is investigating JP-1730/fipamezole for the treatment of Dyskinesia in Parkinson's Disease (DPD) in cooperation with Juvantia, the compound's owner. The most advanced program, SNT-MC17/idebenone in FRDA, has entered pivotal Phase III clinical development; the other clinical programs are in Phase II. Santhera's drug pipeline comprises another three preclinical programs in cancer cachexia, DMD and type 2 diabetes (out licensed to Biovitrum).
For further information on Santhera, please visit www.santhera.com.
For Further Information, Contact
Barbara Heller, Chief Financial Officer
Phone: +41 (0) 61 906 89 54
Thomas Staffelbach, VP Public & Investor Relations
Phone: +41 (0) 61 906 89 47
Media Contacts: Citigate Dewe Rogerson
Phone: +44 207 638 95 71
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