Germany - TME Pharma N.V. (Euronext Growth Paris: ALTME), a biotechnology company focused on developing novel therapies for treatment of cancer by targeting the tumor microenvironment (TME), announced today it has successfully completed its capital increase with preferential subscription rights through the issuance of new shares with associated warrants for an amount of EUR2.7 million (the 'Rights Issue').
'We are very grateful to all our investors for their participation in this latest successful financing for TME Pharma, which we are convinced offers a great opportunity and one which I have subscribed to1 ,' said Aram Mangasarian, CEO of TME Pharma. 'We extend our thanks to our existing shareholders to whom we offered the opportunity to minimize their dilution linked to this capital raise by providing preferential subscription rights. We are thrilled to see their significant participation and consider it a sign of strong support for the company. And we warmly welcome our new investors who are joining us at the beginning of a crucial period in our mission of developing our lead asset NOX-A12 in brain cancer. I'm pleased to report that this capital injection provides sufficient flexibility to finalize our formal advice meeting with the FDA on the next clinical and regulatory steps for NOX-A12, file our IND and expedited regulatory pathway applications and allows us to step up the search for potential partners to collaborate with us in bringing NOX-A12 to market in the fastest, most efficient way possible.'
Following the subscription period from November 30 to December 11, 2023, total subscription orders amounted to 5,076,880 ABSA Y for an amount of EUR1,269,220, representing a subscription rate of 46.9%. Subscriptions on an irreducible basis represented 4,542,295 ABSA Y for EUR1,135,573.75. Subscriptions on a reducible basis represented 334,585 ABSA Y for EUR83,646.25. Free subscriptions represented 200,000 ABSA Y for EUR50,000. Considering the number of ABSA Y subscribed for at the end of the period, EUR1,437,162 corresponding to 5,748,648 ABSA Y was guaranteed by a group of Dutch investors in line with their commitment to bring the capital increase to the total amount of EUR2.7 million gross.
The gross proceeds of the Rights Issue amounted to EUR2.7 million and resulted in the issuance of 10,825,528 ABSA Y (containing 10,825,528 new shares and 10,825,528 Warrants Y) subscribed at a price of EUR0.25. Settlement and delivery of the new shares and the attached Warrants Y, as well as their admission to trading on Euronext Growth Paris, are scheduled for December 18, 2023. The new shares will be listed on the same quotation line as the existing shares, under ISIN code NL0015000YE1, and the Warrant Y will be listed on a separate quotation line under ISIN code NL0015001SS1. Warrants Y have maturity period until February 16, 2024, with two periods of exercise: from January 10 to January 16, 2024, and from February 12 to February 16, 2024. Each 5 Warrants Y entitle the holder to subscribe to 2 ABSA Z (2 new shares with 2 Warrants Z attached). Each series of 4 Warrants Z entitle the holder to subscribe to 5 new shares with an exercise price of EUR0.20 per Warrant Z and a maturity of June 30, 2025, with one period of exercise per quarter.
Considering the net proceeds of the Rights Issue and based on the company's current budget projections, the company's cash runway extends into May 2024. The net proceeds from this operation will primarily be used: to reach increased data maturity in the ongoing NOX-A12 GLORIA Phase 1/2 trial in glioblastoma and to advance discussions with the US Food and Drug Administration (FDA) past regulatory milestones (approx. 1/3rd of proceeds) for general corporate purposes including intensifying interactions with investors and potential industry partners (approx. 1/3rd of proceeds) to buy back 898 out of 1,998 outstanding convertible bonds previously issued under agreement with Atlas Special Opportunities and subject the remaining convertible bonds to a lock-up until April 1, 2024 (approx. 1/3rd of proceeds)
Contact:
Aram Mangasarian
Tel: +49 (0) 30 726247 0
Email: investors@tmepharma.com
Tel: +41 (0) 76 735 01 31
Email: gvanrenterghem@lifesciadvisors.com
About TME Pharma
TME Pharma is a clinical-stage company focused on developing novel therapies for treatment of the most aggressive cancers. The company's oncology-focused pipeline is designed to act on the tumor microenvironment (TME) and the cancer immunity cycle by breaking tumor protection barriers against the immune system and blocking tumor repair. By neutralizing chemokines in the TME, TME Pharma's approach works in combination with other forms of treatment to weaken tumor defenses and enable greater therapeutic impact.
In the GLORIA clinical trial, TME Pharma is studying its lead drug candidate NOX-A12 in newly diagnosed brain cancer patients who will not benefit clinically from standard chemotherapy. TME Pharma has delivered top-line data from the NOX-A12 three dose-escalation cohorts combined with radiotherapy of the GLORIA clinical trial, observing consistent tumor reductions and objective tumor responses. Additionally, GLORIA expansion arms evaluate safety and efficacy of NOX-A12 in other combinations where the interim results from the triple combination of NOX-A12, radiotherapy and bevacizumab suggest even deeper and more durable responses, and improved survival. NOX-A12 in combination with radiotherapy has received orphan drug designation for glioblastoma in the United States and glioma in Europe. TME Pharma has delivered final top-line data with encouraging overall survival and safety profile from its NOX-A12 combination trial with Keytruda in metastatic colorectal and pancreatic cancer patients, which was published in the Journal for ImmunoTherapy of Cancer in October 2021. The company has entered in its second collaboration with MSD/Merck for its Phase 2 study, OPTIMUS, to further evaluate safety and efficacy of NOX-A12 in combination with Merck's Keytruda and two different chemotherapy regimens as second-line therapy in patients with metastatic pancreatic cancer. The design of the trial has been approved in France, Spain and the United States. The company's second clinical-stage drug candidate, NOX-E36, is designed to target the innate immune system. TME Pharma is considering several solid tumors for further clinical development.
TME PHARMA N.V. 
