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  • 17 September 2020
    Genkyotex announces first-half 2020 results and business update

    Genkyotex (Euronext Paris & Brussels: FR0013399474 – GKTX), a biopharmaceutical company and leader in NOX therapies, today provides business update and announces its consolidated financial results for the six months ended June 30, 2020, prepared in accordance with IFRS. 

    Business update and outlook

    The Company announced on August 13, 2020 an agreement for Calliditas Therapeutics AB to acquire a controlling interest in Genkyotex SA. Calliditas has agreed to acquire from Genkyotex's largest shareholders and management team, through an off-market block trade, ordinary shares of Genkyotex representing 62.7% of the share capital and voting rights of Genkyotex. The off-market block trade is expected to take place in October 2020 and remains subject to customary conditions precedent, including clearance from the French Ministry of Economy and Finance regarding foreign investments in French companies. Calliditas is seeking to acquire all outstanding Genkyotex shares and, as soon as reasonably practicable after and subject to completion of the off-market block trade, Calliditas will file with the French Financial Market Authority (Autorité des Marchés Financiers – the “AMF”) a mandatory simplified cash tender offer for the remaining Genkyotex shares on the same terms as the block trade (€2.80 per share in cash and contingent rights to additional cash payments subject to confirmation of regulatory approvals or marketing authorization of setanaxib no later than within ten years of the closing of the tender offer). 

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