(News Bulletin 247) – In receivership since January, the Nanterre commercial court ordered the judicial liquidation of the biopharmaceutical company. The Lysogen stock will soon be delisted.
Lysogen had very little chance of escaping this sentence. The Nanterre commercial court ordered the judicial liquidation of the biopharmaceutical company at the end of last week, the company announced on Friday. The company had been in receivership since January 24.
In great financial distress after a partial failure of a clinical study for potential Sanfilippo syndrome, Lysogene was looking for a buyer as part of this receivership procedure. However, the company specializing in gene therapies targeting central nervous system diseases has not been the subject of any takeover offer before the April 12 deadline.
No takeover in sight
The judicial liquidation of Lysogene will have consequences for the shareholders. The quotation of the securities which had been suspended on January 6 at a price of 0.275 euro, will not resume. Lysogene will shortly ask Euronext to delist its shares.
Remember that Lysogene took its first steps on the Paris Stock Exchange in February 2017 at an IPO price of 6.80 euros to finance its most advanced drug candidate. This is LYS-SAF302, targeting Sanfilippo A disease, which suffered from one of the daughters – since deceased – of Karen Aiach, the founder of Lysogene.
Without any medical training at the start, she teamed up with geneticist Olivier Danos (research director at the CNRS and head of the gene transfer team at Necker-Enfants Malades) to try to develop a cutting-edge treatment to find a therapeutic solution to this rare pathology.
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