ONCODESIGN announces the separation of its two business lines – Service and Biotech

ONCODESIGN announces the separation of its two business lines – Service and Biotech – and its entry into exclusive negotiations with Elyan Partners for the sale of a majority stake in ONCODESIGN (Service), followed by a simplified takeover offer

Dijon, July 1st, 2022, at 8:45am CEST – ONCODESIGN (FR0011766229 – ALONC), a biopharmaceuticals group specialising in precision medicine, today announced that, as part of the planned separation of its two business areas, “Service” and “Biotech” (the “Separation”), the Board of Directors has approved the subsidiarisation of its Biotech business.

The planned transactions are as follows:

• The subsidiarisation by ONCODESIGN of its Biotech/AI activities through a partial transfer of assets to the ONCODESIGN Precision Medicine (OPM) subsidiary, and the listing of this subsidiary through an exceptional distribution in kind to ONCODESIGN’s shareholders concomitant with the admission of all OPM’s shares to listing on Euronext Growth
• The creation of two distinct listed entities, with different corporate purposes which are ambitious, motivating for employees and value-creating for shareholders:
  • The Service activity, dedicated to Drug Discovery CRO activities within ONCODESIGN Service;
  • The Biotech activity, integrating Artificial Intelligence, within OPM. The company will seek to refinance itself on the market to meet the increasing costs of clinical development.
• The acquisition by Edmond de Rothschild Equity Strategies IV SLP, advised by Elyan Partners, of 52.17% of the share capital and 51.43% of the voting rights (excluding double voting rights) of ONCODESIGN from its main shareholders subject to completion of the transactions described above, followed by a mandatory simplified public tender offer for the remaining shares and, a mandatory squeeze-out by the end of the offer period if the conditions are met:
  • Price per share of €14.41, subject to an audit on pro forma financial statements (excluding Biotech/AI activities) at 31 May 2022 on the basis of which the price was set and to an audit of the flows between the Service and Biotech activities between May 31, 2022 and the effective separation of the two activities;
  • The share price values 100% of ONCODESIGN’s capital (excluding Biotech/AI activities) at approximately €100 million on a fully diluted basis.
• These transactions planned will be subject to a preliminary information and consultation process with bodies representing ONCODESIGN employees.

About Oncodesign

 Oncodesign is a biopharmaceutical company dedicated to precision medicine, founded in 1995 by its current CEO and majority shareholder, and has been listed on Euronext Growth Market since April 2014. Its mission is the discovery of effective therapies to fight cancer and other diseases without therapeutic solutions. With its unique experience acquired by working with more than 1 000 clients, including the world’s largest pharmaceutical companies, along with its unique technological platform combining Artificial Intelligence, state-of-the-art medicinal chemistry, pharmacology, regulated bioanalysis, medical imaging, Oncodesign is able to select new therapeutic targets, design and develop potential preclinical candidates through to clinical phases. Oncodesign has configured its organization to offer innovative services to its customers and to license its proprietary molecules. Applied to kinase inhibitors, which represent a market estimated at over $65 billion by 2027 and accounting for almost 25% of the pharmaceutical industry’s R&D expenditure, Oncodesign’s technology has already enabled the targeting of several promising molecules with substantial therapeutic potential, in oncology and elsewhere, along with partnerships with global pharmaceutical groups. Oncodesign is based in Dijon, France, in the heart of the town’s university and hospital hub, and within the Paris-Saclay cluster. Oncodesign has 233 employees within 3 Business Units (BU): Service, Biotech, Artificial Intelligence and subsidiaries in Canada and the USA.

Contacts Press

Oncodesign | Philippe Genne | CEO
Tel. : +33 (0)380 788 260

NewCap | Investor Relations | Mathilde Bohin
Tel. : +33 (0)144 719 495

NewCap | Media Relations | Arthur Rouillé
Tel. : +33 (0)144 710 015

Forward-looking statements

This press release contains certain forward – looking statements and estimates concerning the Company’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the Company’s control. Consequently, the actual results, financial condition, performances and/or achievements of the Company or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and the Company undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.