Agennix AG i.L.
GPC Biotech AG Plans an Equity Offering and a NASDAQ Listing
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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GPC Biotech AG Plans an Equity Offering and a NASDAQ Listing
Martinsried/Munich (Germany), April 2, 2004 -GPC Biotech AG (Frankfurt Stock
Exchange: GPC; TecDAX 30) today announced that it is planning an equity offering
and a NASDAQ listing. The timing and details of the offering have not yet been
finalized and will depend on market conditions. In connection with the planned
offering, the Company is re-scheduling its Annual General Meeting, previously
scheduled for May 12, 2004, to August 31, 2004 and will publish its Annual
Report at the end of April.
GPC Biotech intends to use the proceeds of the planned offering to fund
additional clinical trials of satraplatin to broaden the potential anticancer
applications of this drug candidate, to make regulatory filings for marketing
approval of satraplatin, and to fund the Company’s other clinical, preclinical
and research programs, including its monoclonal antibody program (1D09C3) and
cyclin-dependent kinase inhibitor program (RGB-286199). GPC Biotech may also
use some of the proceeds from the offering to invest in new capabilities
relating to its research, discovery and development activities and for general
corporate purposes.
This press release does not constitute an offer to sell or a solicitation of an
offer to buy any securities in the United States. Securities may not be offered
or sold in the United States absent registration or an exemption from
registration. Any public offering of securities to be made in the United States
will be made by means of a prospectus. In addition, this press release does
not constitute an offer to sell or a solicitation of an offer to buy any
securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities law of any such jurisdiction.
This press release and the information contained herein is not being
distributed, and is not for distribution, in the United States, to U.S. persons
(including legal entities), or to publications with a general circulation in the
United States.
GPC Biotech AG is a biotechnology company discovering and developing new
anticancer drugs. The Company’s lead product candidate – satraplatin – is
currently in a Phase 3 registrational trial as a second-line chemotherapy
treatment in hormone-refractory prostate cancer primarily in the U.S. and Europe
following successful completion of a Special Protocol Assessment by the U.S.
FDA and receipt of a Scientific Advice letter from the European regulatory
authority, EMEA. The FDA has also granted fast track designation to satraplatin
for this indication. Satraplatin was in-licensed from Spectrum
Pharmaceuticals, Inc. Other anticancer programs in development include a
monoclonal antibody and a cell cycle inhibitor. The Company is leveraging its
drug discovery technologies to elucidate the mechanisms-of-action of drug
candidates and to support the growth of its drug pipeline. The Company has
formed successful alliances with a number of pharmaceutical and biotechnology
firms. For example, the Company has a multi-year alliance with ALTANA Pharma AG
to establish the ALTANA Research Institute in the U.S., which provides GPC
Biotech with committed revenues until 2007. GPC Biotech AG is headquartered in
Martinsried/Munich (Germany). The Company’s wholly owned U.S. subsidiary has
research sites in Waltham, Massachusetts and Princeton, New Jersey. For
additional information, please visit the Company’s Web site at
http://www.gpc-biotech.com.
This press release may contain projections or estimates relating to: plans and
objectives relating to GPC Biotech’s future operations, products, or services;
future financial results; or assumptions underlying or relating to any such
statements; each of which constitutes a forward-looking statement subject to
risks and uncertainties, many of which are beyond GPC Biotech’s control. Actual
results could differ materially depending on a number of factors, including the
timing and effects of regulatory actions, the results of clinical trials, GPC
Biotech’s relative success developing and gaining market acceptance for any new
products, and the effectiveness of patent protection.
For further information, please contact:
GPC Biotech AG
Fraunhoferstr. 20
82152 Martinsried/Munich, Germany
Phone/Fax: +49 (0)89 8565-2600/-2610
info@gpc-biotech.com
Martin Braendle (ext. 2693)
Manager, Investor Relations & Corporate Communications
martin.braendle@gpc-biotech.com
end of ad-hoc-announcement (c)DGAP 02.04.2004
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WKN: 585150; ISIN: DE0005851505; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
020730 Apr 04
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