April 13, 2017 / 6:42 AM / 4 months ago

BRIEF-Erytech to raise 70.5 million euros in private placement

April 13 (Reuters) - Erytech Pharma SA:

* Erytech to raise 70.5 million euros ($75.19 million)in a private placement to U.S. aeuropean investors

* Issue of 3,000,000 new shares at 23.50 euros, representing approximately 25.55% of company's issued share capital after completion of transaction

* Expects to use proceeds from this capital increase to provide company with additional resources in order to fund continued clinical development of its product candidates

* Intends to use approximately half of proceeds from proposed reserved offering to carry out preparatory steps for launch of potential phase 3 for pancreatic cancer indication Source text for Eikon: Further company coverage: ($1 = 0.9376 euros) (Gdynia Newsroom)

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