Ergomed plc Acquires PSR Group BV
Ergomed plc, is pleased to announce that, further to the Company's announcement on 28 September 2017, the acquisition of PSR Group BV ("PSR") has completed following the admission to trading on AIM of the 2,081,389 new ordinary shares of 1p each at 8.00 a.m. on 2 October 2017.
A total of 1,757,576 new ordinary shares in the Company of 1p each (the "Placing Shares") were placed at a price of 165p per Placing Share (the "Placing Price") with new and existing investors, raising proceeds of £2.9m (before expenses) to part-fund the acquisition of PSR. In addition, a further 323,813 new ordinary shares were issued at a price of 165p per share to PSR as initial share consideration ("Initial Consideration Shares").
Following the Admission of the Placing Shares and Initial Consideration Shares, the Company's issued share capital now comprises 42,680,813 ordinary shares of 1p each. The above figure may be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Ergomed provides specialist services to the pharmaceutical industry and develops drugs both wholly-owned and through partnerships. Ergomed's fast-growing, profitable service offering spans all phases of clinical development and post-approval pharmacovigilance and medical information. Drawing on more than 20 years of expertise in drug development, Ergomed is also building a growing portfolio of drug development partnerships and programmes, including wholly-owned proprietary products for the treatment of surgical bleeding. For further information, visit: http://ergomedplc.com
PSR, established in 1998, is a full service specialist orphan drug CRO and recognised as a leading expert in the rare disease niche. PSR specialises in running complex orphan drug development programs requiring innovative regulatory and clinical approaches as well as pricing and reimbursement strategies. Besides outsourced project solutions, PSR provides insourced staffing solutions (orphan drug teams), temporary & permanent staffing, interim management solutions as well as training / coaching career programs.
PSR's dedication to the rare disease landscape is exemplified by an extensive track record of orphan drug projects in a wide range of therapeutic areas, its continued efforts to achieve true patient centricity and its societal commitments by participation in fundraising activities and public-private partnerships. For further information, visit: http://www.psr-group.com.