Valbonne, France, April 26, 2017, 7.00pm CEST
TxCell SA (FR0010127662 – TXCL), a biotechnology company developing innovative, personalized cellular immunotherapies using regulatory T cells (Treg) to treat severe inflammatory and autoimmune diseases as well as transplant rejection, today reports its cash position and its revenues for the first quarter of 2017. In addition, TxCell announces that its 2016 document de référence (registration document) has been registered with the French Autorité des marchés financiers (AMF) on April 26, 2017.
Cash position and revenues as of March 31, 2017
As of March 31st, 2017, the cash and cash equivalents amounted to €11.3 million . In February 2017, TxCell successfully completed a capital increase through the issue of 5,549,300 new shares with warrants attached. The offer has been subscribed at 100% and raised €11.1 million in gross proceeds. These proceeds will cover TxCell’s cash requirements for 2017, which include the costs of the CAR-Treg research and manufacturing process development programs as well as TxCell’s ongoing expenses and overheads.
The additional proceeds from the potential exercise of all the warrants which were attached to new shares issued in February 2017 would enable TxCell to further finance its activities through to the IND approval to initiate a first-in-man study with a CAR-Treg candidate. This is expected by the end of 2018. As a reminder, these warrants have a maturity of one year and are traded on a separate Euronext line (FR0013231792). At any time up to February 26, 2018 (included), 4 warrants will entitle holders to subscribe for 3 TxCell’s new shares at a subscription price of €2.60 per new share.
As expected, TxCell did not generate revenues during the first quarter 2017.
Availability of 2016 document de référence
TxCell’s 2016 document de référence (registration document) is available on the AMF’s website (www.amf-france.org), as well as on the company’s website (www.txcell.fr) in the Investors > Documentation > Annual Reports section.
Shareholders are notably invited to read the “Risk factors” section which has been updated in Chapter 4 of the 2016 document de reference.