Restructuring proposal adopted by creditors
May 30 2022 - 8:55AM
Restructuring proposal adopted by creditors
Orphazyme A/S in
restructuring Company
announcement No.
28/2022
Inside informationwww.orphazyme.comCompany Registration
No. 32266355
Copenhagen, Denmark, May 30, 2022 –
Orphazyme A/S in restructuring (ORPHA.CO; ORPH) (“Orphazyme” or the
“Company”), a late-stage biopharmaceutical company, announces that
today an in-court meeting was held where the restructuring proposal
as published by the Company through company announcement no.
26/2022 on May 18, 2022, was approved by the Company’s creditors
and affirmed by the Danish Maritime and Commercial High Court in
accordance with sections 13 d and 13 e of the Danish Insolvency
Act.
Following the adoption of the restructuring
proposal, the restructuring proceedings will be discontinued with
immediate effect in accordance with the approved and affirmed
restructuring proposal. In continuance hereof, Orphazyme will
transfer of substantially all of its assets and business activities
to KemPharm Denmark A/S (please see company announcement no.
24/2022). Subsequently Orphazyme will pay the undisputed debts to
its creditors in accordance with the restructuring proposal.
For additional information, please
contact
Orphazyme A/S in restructuring
Anders Vadsholt, Chief Executive Officer and Chief
Financial Officer: +45 2898 9055
John Sommer Schmidt, Restructuring Administrator:
+45 8620 7500
About Orphazyme
Orphazyme is a late-stage biopharmaceutical company
developing arimoclomol for Niemann-Pick disease type C (NPC).
Orphazyme is headquartered in Denmark. Orphazyme’s shares are
listed on Nasdaq Copenhagen (ORPHA).
About arimoclomolArimoclomol is an
investigational drug candidate that amplifies the production of
heat shock proteins (HSPs). HSPs can rescue defective misfolded
proteins and improve the function of lysosomes. Arimoclomol is
administered orally, and has now been studied in 10 Phase 1, four
Phase 2, and three pivotal Phase 2/3 trials. Arimoclomol has
received Orphan Drug Designation (ODD) for NPC in the US and EU.
Arimoclomol has received Fast-Track Designation (FTD), Breakthrough
Therapy Designation (BTD), and Rare Pediatric Disease Designation
(RPDD) from the U.S. Food and Drug Administration (FDA) for NPC. On
June 17, 2021, Orphazyme received a Complete Response Letter from
the FDA regarding its New Drug Application for arimoclomol for the
treatment of NPC. The company has requested a type B-meeting to be
held early Q3 2022.
Forward-looking statement This company
announcement may contain certain forward-looking statements under
the U.S. Private Securities Litigation Reform Act of 1995 and
otherwise, including forward-looking statements about the Company’s
restructuring process and the Company’s sale of substantially all
of its assets and business activities to KemPharm Denmark
A/S. Although the Company believes its expectations are based
on reasonable assumptions, all statements other than statements of
historical fact included in this company announcement about future
events are subject to (i) change without notice and (ii) factors
beyond the Company’s control, including pursuant to regulatory or
judicial intervention. Except as required by law, the Company
assumes no obligation to update these forward-looking statements
publicly, or to update the reasons actual results could differ
materially from those anticipated in the forward-looking
statements, even if new information becomes available in the
future.
- 28-2022 Restructuring proposal adopted by creditors
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