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| [January 09, 2013] |
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Synageva BioPharma Announces Closing of Public Offering and Exercise of Option to Purchase Additional Shares
LEXINGTON, Mass. --(Business Wire)--
Synageva
BioPharma Corp. ("Synageva") (NASDAQ:GEVA), a clinical stage
biopharmaceutical company developing therapeutic products for rare
disorders, today announced the closing of a $118 million underwritten
public offering of 2,472,500 shares of common stock, including 322,500
shares of common stock which were issued pursuant to the exercise of the
underwriters' option to purchase additional shares, at a price of $47.53
per share.
Morgan Stanley and J.P. Morgan acted as joint book-running managers in
the offering, and Cowen and Company, Canaccord Genuity Inc., and Leerink
Swann LLC are acting as co-managers in the offering.
The securities described above were offered by Synageva pursuant to a
Form S-3 shelf registration statement (including a base prospectus)
previously filed with the Securities and Exchange Commission ("SEC (News - Alert)").
The final prospectus supplement and accompanying prospectus related to
this offering is available for free by visiting EDGAR on the SEC's
website located at www.sec.gov.
Copies of the final prospectus supplement and accompanying prospectus
may also be obtained from the offices of Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus
Department, by calling toll-free (866) 718-1649 or by email at prospectus@morganstanley.com,
or from the offices of J.P. Morgan Securities LLC via Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by
calling toll-free (866) 803-9204.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Synageva's Lead Program
Sebelipase
alfa (formerly referred to as SBC-102)
is a recombinant form of the human LAL enzyme being developed as an
enzyme replacement therapy for Lysosomal Acid Lipase (LAL) Deficiency, a
lysosomal storage disorder (LSD). Sebelipase alfa is currently being
evaluated in global clinical trials and has been granted orphan
designations by the U.S. Food and Drug Administration ("FDA"), the
European Medicines Agency, and the Japanese Ministry of Health, Labour
and Welfare. Additionally, sebelipase alfa received "fast track"
designation by the FDA.
About LAL Deficiency
Lysosomal
Acid Lipase Deficiency is a rare, autosomal recessive lysosomal
storage disorder (LSD) that is caused by a marked decrease in LAL enzyme
activity. Late onset LAL Deficiency, sometimes called Cholesteryl Ester
Storage Disease (CESD), affects both children and adults. In these
patients, the buildup of fatty material in the liver, spleen and blood
vessel walls leads to complications resulting in significant morbidity
and mortality. Early onset LAL Deficiency, sometimes called Wolman
Disease, affects infants in the first year of life and is characterized
by growth failure, malabsorption, steatorrhea and hepatomegaly and is
rapidly fatal, usually within the first year of life.
About Synageva BioPharma Corp.
Synageva is a clinical stage biopharmaceutical company focused on the
discovery, development, and commercialization of therapeutic products
for patients with life-threatening rare diseases and unmet medical need.
Synageva has several protein therapeutics in its pipeline.
The company has assembled a team with a proven record of bringing orphan
therapies to patients.
Further information regarding Synageva BioPharma Corp. is available at www.synageva.com.
Forward-Looking Statements
This news release and oral statements made from time to time by Synageva
representatives in respect of the same subject matter may contain
"forward-looking statements" under the provisions of the Private
Securities Litigation Reform Act of 1995. Such statements can be
identified by introductory words such as "expects," "plans," "intends,"
"believes," "will," "estimates," "forecasts," "projects," or words of
similar meaning and by the fact that they do not relate strictly to
historical or current facts. Many factors may cause actual results to
differ materially from forward-looking statements, including inaccurate
assumptions and a broad variety of risks and uncertainties, some of
which are known, including those identified under the heading "Risk
Factors" in the Company's prospectus supplement filed with the
Securities and Exchange Commission (the "SEC") on January 3, 2013, and
other filings Synageva periodically makes with the SEC and others of
which are not. Synageva cannot be sure when or if it will be permitted
by regulatory agencies to undertake additional clinical trials or to
commence any particular phase of clinical trials or how quickly patient
enrollment in clinical trials will occur. In addition, early clinical
results are not necessarily predictive of results that may be achieved
from subsequent clinical trials. Because of this, statements regarding
the expected timing of clinical trials or ultimate regulatory approval
cannot be regarded as actual predictions of when Synageva will obtain
regulatory approval for any phase of clinical trials or when it will
obtain ultimate regulatory approval by a particular regulatory agency or
when any of its drug product candidates might be commercialized.
Synageva's future financial results may differ from those currently
anticipated due to a number of factors, including unanticipated costs in
its research and development programs, fluctuations in royalty revenues
and unplanned costs associated with maintaining and enforcing patents
and other patent-related costs. No forward-looking statement is a
guarantee of future results or events, and investors should avoid
placing undue reliance on such statements. Synageva undertakes no
obligation to update any forward-looking statements, whether as a result
of new information, future events or otherwise.
"Dedicated to Rare Diseases®" is a registered trademark and "Synageva
BioPharma™" is a trademark of Synageva BioPharma Corp.
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