ERYTECH announces that Akkadian is continuing its attempt at destabilization with the filing of a new lawsuit

ERYTECH announces that Akkadian is continuing its attempt at destabilization with the filing of a new lawsuit

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Cambridge, MA (U.S.) and Lyon (France), June 20, 2023 – ERYTECH Pharma (Euronext Paris and Nasdaq: ERYP) announces the filing of a new lawsuit by Akkadian Partners.

Despite the rejection by the President of the Lyon Commercial Court of Akkadian Partners' request to postpone the General Meeting's vote on the proposed merger, Akkadian has initiated new legal proceedings with the clear aim of continuing its attempt to destabilize Erytech.

As part of this new procedure, the first hearing of which will take place after the vote on the merger, Akkadian Partners is requesting the cancellation of the capital increase of May 15, 2023. This capital increase, resulting from contributions in kind of Pherecydes shares in exchange for ERYTECH shares, had been announced at the time of the merger announcement last February and had been carried out in accordance with the delegation of authority granted by the 2022 extraordinary general meeting of ERYTECH shareholders under resolution 29 and on the basis of reports issued by Finexsi, acting as a contribution appraiser (commissaire aux apports), in accordance with Articles L. 225-147, R. 22-10-7 and R. 225-136 of the French Commercial Code as well as AMF recommendation no. 2020-06.

Erytech is confident of the outcome of this unfounded procedure, which appears bound to failure.

About ERYTECH

ERYTECH is a biopharmaceutical company developing innovative red blood cell-based therapeutics for severe forms of cancer and orphan diseases.

On February 15, 2023, ERYTECH announced its intended strategic combination with PHERECYDES to create a global player in extended phage. More detail can be found in the press release.

ERYTECH is listed on the Nasdaq Global Select Market in the United States (ticker: ERYP) and on the Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP). ERYTECH is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes.

For more information, please visit www.erytech.com

CONTACTS

ERYTECH                      Eric Soyer CFO & COO	NewCap Mathilde Bohin / Louis-Victor Delouvrier Investor relations Nicolas Merigeau Media relations