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4SC AG — Capital/Financing Update 2007
Aug 20, 2007
5_rns_2007-08-20_e42b549d-b0ed-42f1-972a-34eabf938333.html
Capital/Financing Update
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Ad-hoc | 20 August 2007 11:06
4SC AG decides on an increase in share capital
4SC AG / Capital Increase
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Planegg-Martinsried, Germany 20 August 2007 – Today, the Management Board
of the Martinsried-based drug discovery and development company 4SC AG
(Frankfurt, Prime Standard: VSC), with the approval of the Supervisory
Board, decided to increase the share capital from EUR 12,667,884.00 to up
to EUR 19,001,826.00, by issuing up to 6,333,942 zero par value common
bearer shares from the authorised capital.
The new shares are to be offered to the shareholders at a subscription
price of EUR 2.65 per new share. An investment confirmation has already
been received for up to 5,174,206 shares. By means of this decision on
capital increase, the company is responding to the substantial demand of an
investor. The proceeds are to be used to further develop the existing
project pipeline and to add further projects. The subscription rights of
the shareholders are complied with. The shareholders can subscribe to the
new shares with dividend rights from 1 January 2007 in a 2:1 ratio starting
from 22 August until probably 5 September 2007. Unsubscribed shares are to
be offered to selected investors.
A public offer for the purchase of the new shares is not planned. The
approval of the new shares for trading at the Frankfurt Stock Exchange is
not expected before week 42.
Further details of the capital increase will be provided in the
subscription offer expected to be published in the electronic Federal
Gazette on 21 August 2007.
Information and Explaination of the Issuer to this News:
The establishment of a comprehensive, effective pipeline with drug
candidates that are attractive for the pharmaceutical industry is and will
remain the primary goal of 4SC AG and a major lever for increasing the
company value. With the planned capital increase, 4SC AG will not only
further develop the existing project pipeline, but also add other projects
that provide additional potential for added value and that will further
diversify the risk in the project portfolio to the development pipeline.
4SC AG's lead compound SC12267, which is currently in the clinical phase
IIa study, is progressing according to schedule. The results are
anticipated for the fourth quarter of 2007. Moreover, the drug candidates
SC68896 against haematopoietic and solid tumours and SC71570 from the NFkB
project against chronic inflammatory bowel diseases are currently
undergoing advanced pre-clinical studies and will shortly be ready for
clinical studies. The proceeds from the capital measure will help to
exploit the potential of the company's own pipeline even better.
About 4SC AG:
4SC AG (ISIN DE0005753818) has been listed in the Prime Standard of
Frankfurt Stock Exchange since 15 December 2005. Founded in 1997 and now
with a staff of 61, the company develops novel drug candidates for
inflammatory diseases and cancer using a cheminformatics based technology
platform. Traditional high throughput screening of therapeutic agents has
been transferred from the lab to the computer. Thus, the company offers
substantial cost and time advantages as well as increased success rates in
drug development. 4SC AG uses its patented technology platform to create a
sustainable product pipeline for active agents that are developed in early
clinical phases ('proof of concept') and subsequently result in upfront and
milestone payments as well as participation in sales generated by
out-licensed products to the pharmaceutical industry. There are currently
six projects in the pipeline. The first project on the treatment of
rheumatoid arthritis is currently undergoing clinical phase IIa. Four other
product candidates are in preclinical development and another project is in
the research stage. Furthermore, the company has its technology platform in
co-operation projects with biotech and pharma companies and is already
generating initial revenues.
Legal Note
This document may contain projections or estimates relating to plans and
objectives relating to our future operations, products, or services; future
financial results; or assumptions underlying or relating to any such
statements; each of which constitutes a forward-looking statement subject
to risks and uncertainties, many of which are beyond our control. Actual
results could differ materially, depending on a number of factors.
Bettina von Klitzing
Manager Investor Relations & Public Relations
4SC AG
phone: +49 (0) 89 70 07 63 - 0
[email protected]
On behalf of 4SC AG:
Sibylle Greiser
komm.passion Schumacher’s AG
phone: +49 (0) 89 48 92 72 - 21
[email protected]
DGAP 20.08.2007
Language: English
Issuer: 4SC AG
Am Klopferspitz 19a
82152 Martinsried
Deutschland
Phone: +49 (0)89 7007 63-0
Fax: +49 (0)89 7007 63-29
E-mail: [email protected]
Internet: www.4sc.de
ISIN: DE0005753818
WKN: 575381
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service