HepaHope, Inc.
HepaHope, Inc. raises USD 12.6 million including pre-IPO financing
HepaHope, Inc. / IPO Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. HepaHope, Inc. raises USD 12.6 million including pre-IPO finacing - Gross proceeds above expectation - 1.5 million shares placed in the offering - Start of trading on the Frankfurt Stock Exchange on April 30, 2009 Irvine (California, USA), April 29, 2009 - Today, HepaHope, Inc. has announced the results of its funding activities in connection with the IPO after the offer period ended on April 28. The company, which is focused on research, development and commercialization of biopharmaceutical products for patients with chronic and acute liver disease, has raised a total of USD 12.6 million (EUR 9.5 million) including pre-IPO funds. This is USD 4.6 million more than the company's initially published minimum target of USD 8 million. The total net proceeds (after IPO costs) will be received by the company. Within the public offering in Germany and Luxembourg and the international private placement the company sold additional 1.5 million shares at a fixed price of EUR 1.52 mainly with professional investors internationally including Germany. As announced, the start of trading of HepaHope shares (Symbol: 0HH1, ISIN: US42689N1090) is scheduled for tomorrow, April 30, 2009 at the Frankfurt Stock Exchange. The shares will be listed in the Open Market with inclusion in the Entry Standard of Deutsche Börse. 'We are very satisfied with the outcome of the IPO in this challenging capital market environment. This provides a good financial basis for the upcoming clinical trials,' said founder and CEO Dr. Sung-Soo Park. Disclaimer: No stock exchange or regulatory authority has approved or disapproved of the information contained herein. The securities offered were not registered under the United States Securities Act of 1933 (the '1933 Act') or the securities laws of any state and may not be offered or sold in the United States or to U.S. persons, except pursuant to registration under the 1933 Act or pursuant to an available exemption from such registration requirements. In particular, the securities will be subject to a 'distribution compliance period' of at least one year during which they may not be offered or sold to persons in the United States or U.S. persons except in transactions exempt from registration under the 1933 Act. About HepaHope: HepaHope, Inc. is a biopharmaceutical company focused on research, development and commercialization of biologic products designed to address the needs of patients with liver failure. The Company's leading proprietary technology, the HepaPheresis(TM) System, is based on an Organ Slice Cultivation Technology which aims to maintain the functionality of various organs out of the body (ex vivo) in order to better support liver failure patients. The HepaPheresis(TM) System is currently being prepared for Phase I clinical trials. HepaHope's patented core technology for organ slice cultivation is also the foundation of other product candidates in the HepaHope, Inc. Bhavesh Singh Chief Financial Officer P +1 949 421 3617 M +1 201 920 1819 Investor Relations IR.on AG Achim Josten Dariusch Manssuri T +49 221 9140 970 F +49 221 9140 978 E-mail: info@ir-on.com 29.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: HepaHope, Inc. 30 Fairbanks, Suite 110 CA 92618 Irvin Vereinigte Staaten von Amerika Phone: 001 9494213600 Fax: 001 9494213680 E-mail: investor@hepahope.com Internet: http://www.hepahope.com ISIN: US42689N1090, USU425541021 WKN: A0RMY4, A0RLC1 Listed: Open Market (Entry Standard) in Frankfurt Notierung vorgesehen / designated to be listed End of News DGAP News-Service ---------------------------------------------------------------------------
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