Agendia Postpones its IPO Due to Unfavourable Market Conditions
By Agendia, PRNESunday, June 19, 2011
AMSTERDAM and IRVINE, California, June 20, 2011 -
- Not for release, distribution or
publication in whole or in part, directly or indirectly, into or in
the United States, Australia, Canada, OR Japan
Agendia (or the “Company”), a commercial-stage molecular cancer
diagnostics company, announces the postponement of its Initial
Public Offering (”IPO”) that was due to price today. Agendia
announced its intention to float on 20 May 2011 and started its
book building process on 6 June 2011. The timetable has coincided
with an extraordinarily volatile period in global capital markets
resulting in high levels of uncertainty and volatility that do not
meet the existing shareholders’ and the Company’s desire to achieve
a successful IPO with an orderly aftermarket.
Commenting on this announcement, Bernhard Sixt,
Agendia’s Chief Executive Officer, said: “We
are pleased by the response we have received from investors but
current volatile and uncertain market conditions do not allow us to
launch the transaction and achieve a smooth transition into the
public markets. Agendia’s product offering is strong and our
world-class team will continue to increase the pace of commercial
growth as a private company, supported by our existing shareholders
who are committed to the successful future growth of the Company.
We would like to thank both Dutch and international investors who
took the time to meet us and who showed great interest in our
company.“
About Agendia
Agendia is a commercial-stage molecular diagnostic company
focused on the discovery, development and commercialisation of
genomic-based diagnostic products to improve the quality of life
for cancer patients by providing healthcare professionals with
critical information to enable safe and effective personalised
treatment. The Company’s Symphony™ suite of four complementary
breast cancer tests, TargetPrint®,
MammaPrint®, BluePrint™ and
TheraPrint®, provides a comprehensive support
system for oncologists to determine whether a breast cancer patient
is likely to benefit from hormonal therapy, chemotherapy or
targeted therapies, saving patients from unnecessary treatments and
lowering healthcare costs. Agendia’s lead test,
MammaPrint®, currently the only molecular diagnostic
breast cancer recurrence test to receive clearance from the US Food
and Drug Administration, gives physicians a tool to clearly and
decidedly separate “high” risk from “low” risk recurrence in early
stage breast cancer patients, thereby better gauging the “high”
risk patients’ need for chemotherapy. Agendia is advancing a
pipeline of new products, which includes a further extension of its
breast cancer suite of tests as well as products for colon cancer
and lung cancer. The Company’s research and development activities
are driven by its deep scientific roots and supported by
collaborations with leading academic consortia, cancer centres and
pharmaceutical companies.
Agendia was founded in 2003 as a spin-off of the Netherlands
Cancer Institute and is based in Amsterdam, the Netherlands, and
Irvine, California, United States. For more information, please
visit www.agendia.com.
Disclaimer
This announcement and the information contained herein are
not for distribution in or into the United States of America
(including its territories and possessions, any state of the United
States of America and the District of Columbia) (the
“United States“), Australia, Canada or
Japan. This announcement does not constitute, or form part of, an
offer to sell or a solicitation of any offer to purchase the shares
of Agendia (the “Company”, and such shares, the “Securities”) in
the United States, Australia, Canada, Japan or in any other
jurisdiction where such offer or sale could be unlawful.
The Securities have not been and will
not be registered under the US Securities Act of 1933, as amended
(the “Securities Act”), or with any securities regulatory authority
of any state or other jurisdiction of the United States.
Consequently, the Securities may not be offered, sold, resold,
transferred, delivered or distributed, directly or indirectly, into
or within the United States except pursuant to an exemption from
the registration requirements of the Securities Act and in
compliance with any applicable securities laws of any state or
other jurisdiction of the United States. No public offering of the
Securities is being made in the United States.
This communication is only addressed
to, and directed at, persons in member states of the European
Economic Area who are “qualified investors” within the meaning of
Article 2(1)(e) of the Prospectus Directive (”Qualified
Investors”). For the purposes of this provision, the expression
“Prospectus Directive” means Directive 2003/71/EC (and amendments
thereto, including Directive 2010/73/EC, to the extent implemented
in the Relevant Member State) and includes any relevant
implementing measure in each member state of the European Economic
Area which has implemented the Prospectus Directive. This document
is an advertisement and not a prospectus for the purpose of the
Prospectus Directive. A prospectus dated 3 June 2011 prepared
pursuant to the Prospectus Directive has been published which can
be obtained through Agendia.
In addition, in the United Kingdom,
this communication is being distributed only to, and is directed
only at, Qualified Investors (i) who have professional experience
in matters relating to investments who fall within the definition
of “investment professional” in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended (the “Order”), or (ii) who are high net worth companies,
unincorporated associations and partnerships and trustees of high
value trusts as described in Article 49(2) of the Order, and (iii)
other persons to whom it may otherwise lawfully be communicated
(all such persons together being referred to as “relevant
persons”). Any investment or investment activity to which this
communication relates is available only to and will only be engaged
in with such persons. This communication must not be acted on or
relied on (i) in the United Kingdom, by persons who are not
relevant persons and (ii) in any member state of the European
Economic Area other than the United Kingdom, by persons who are not
Qualified Investors.
In connection with the Offering, one
of the Underwriters (the “Stabilising Manager”) (or persons acting
on behalf of the Stabilising Manager) may over-allot shares or
effect transactions with a view to supporting the market price of
the shares at a level higher than that which might otherwise
prevail. However, there is no assurance that the Stabilising
Manager (or persons acting on behalf of the Stabilising Manager)
will undertake stabilisation action. Any stabilisation action may
begin on or after the date on which adequate public disclosure of
the final price of the shares is made and, if begun, may be ended
at any time, but it must end no later than 30 days after the date
of commencement of trading of the shares.
The information, opinions and
forward-looking statements contained in this release speak only as
at its date, and are subject to change without notice.
All investment is subject to risk.
The price of the securities offered may fluctuate. Past performance
is no guarantee of future returns. Potential investors are advised
to seek expert financial advice before making any investment
decision.
Aan de belegging zijn risico’s verbonden. De waarde
van de aangeboden effecten kan fluctueren. Rendementen uit het
verleden zijn geen garantie voor de toekomst. Potentiële beleggers
wordt geadviseerd om eerst hun eigen beleggingsadviseur te
raadplegen alvorens een beleggingsbesluit te nemen.
For further information, please
contact:
Agendia
Dr. Bernhard Sixt, President & CEO
investorrelations@agendia.com
International media and investor
enquiries
M:Communications
Mary-Jane Elliott / Emma Thompson
Tel: +44(0)20-7920-2345, E-mail: agendia@mcomgroup.com
Dutch media enquiries
Huijskens Communications
Ian Bickerton
Tel +31(0)20-685-5955, E-mail: i.bickerton@huijskens.nl
.
Tags: Agendia, Amsterdam And Irvine, california, June 20, Netherlands