Genkyotex (Euronext Paris & Brussels: FR0013399474 – GKTX), a biopharmaceutical company and the leader in NOX therapies, announced the closing of the acquisition by Calliditas Therapeutics AB (“Calliditas”; Nasdaq OMX – CALTX; NASDAQ - CALT) of 62.7% of Genkyotex in an off-market transaction.

On August 13, 2020, Genkyotex announced the agreement by Calliditas to acquire 7,236,515 ordinary shares of Genkyotex, representing 62.7% of the share capital and voting rights from Genkyotex’s largest shareholders and management team (the “Block Sellers”). Having now received clearance from the French Minister of Economy and Finance regarding foreign investments into France, Calliditas has closed today the off-market block trade for a total consideration of €19.75m in cash (€2.73 per ordinary share*) plus contingent rights payable upon regulatory approvals of setanaxib, Genkyotex’s lead asset.

Following the closing of the off-market block trade, the members of the board of directors members other than Mr. Elias Papatheodorou, Chief Executive Officer, have resigned. Mr Elmar Schnee, Chairman of the board of Calliditas, Mrs Renée Aguiar-Lucander, Chief Executive Officer of Calliditas and Mr. Jonathan Schur, Group General Counsel of Calliditas, have been coopted as members of the Board of directors. Mr Elmar Schnee has been elected President of the Board of directors.

Calliditas has announced that it will, in compliance with French and Belgian securities law, file with the French Financial Market Authority (Autorité des Marchés Financiers – the “AMF”) a simplified mandatory cash tender offer for the remaining Genkyotex shares at €2.80 per ordinary share plus contingent right payable upon regulatory approvals of setanaxib. Calliditas indicated that the outcome from the tender offer, if approved by the AMF, is expected to be reported in December and will be followed by a squeezeout of the non-tendered shares under the same terms, if Calliditas then holds more than 90% of the outstanding Genkyotex shares.

* Certain transaction costs (amounting to circa €0.07 per share) have been deducted from the price paid to the Block Sellers.