Pherecydes Announces That Legal Proceedings Have Been Initiated Against Erytech by Akkadian to Obtain the Postponement of the Vote on the Merger With Pherecydes

Regulatory News:

Pherecydes Pharma (FR0011651694 – ALPHE) (Paris:ALPHE), a biotechnology company specializing in extended phage therapy for treating antibiotic-resistant and/or complicated bacterial infections, announces that it has been informed that Akkadian Partners has initiated legal proceedings against Erytech to obtain the postponement of the vote at the Annual General Meeting on June 23 on the merger with Pherecydes. For further information, please refer to the press release issued today by Erytech.

The Company will keep its shareholders informed of the result of this legal action, which is part of Akkadian's campaign to destabilize and denigrate Erytech and Pherecydes respectively.

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About Pherecydes Pharma

Founded in 2006, Pherecydes Pharma is a biotechnology company that develops treatments against resistant bacterial infections, responsible for many serious infections. The Company has developed an innovative approach, precision phage therapy, based on the use of phages, natural bacteria-killing viruses. Pherecydes Pharma is developing a portfolio of phages targeting 3 of the most resistant and dangerous bacteria, which alone account for more than two thirds of hospital-acquired resistant infections: Staphylococcus aureus, Escherichia coli and Pseudomonas aeruginosa. Headquartered in Nantes, Pherecydes Pharma has a team of around twenty experts from the pharmaceutical industry, biotechnology sector and academic research. Pherecydes Pharma announced on February 15, 2023 its plan to merge with Erytech, which will be subject to the approval of the respective shareholders of both companies.

For more information, www.pherecydes-pharma.com

Disclaimer

This press release contains non-factual elements, including, but not limited to, certain statements regarding future results and other future events. These statements are based on the current vision and assumptions of the management of the Company. They incorporate known and unknown risks and uncertainties that could result in significant differences in results, profitability and expected events. In addition, Pherecydes Pharma, its shareholders and its affiliates, directors, officers, counsels and employees have not verified the accuracy of, and make no representations or warranties about, statistical information or forecast information contained within this news release and that originates or is derived from third party sources or industry publications; these statistical data and forecast information are only used in this press release for information purposes. Finally, this press release may be drafted in French and in English. In the event of differences between the two texts, the French version will prevail.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230604005039/en/

The Pherecydes Pharma SADIR Stock at the time of publication of the news with a raise of 0,00 % to 1,890EUR on Frankfurt stock exchange (02. Juni 2023, 09:01 Uhr).