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Herantis Pharma Oyj: Herantis Pharma launches its initial public offering and applies for listing on First North

Herantis Pharma Plc

Company release 12 May 2014 at 9:00 a.m.

Not for release or distribution or publication in whole or in part in or into
Australia, South-Africa, Hong Kong, Japan, Canada or The United States or any
other jurisdiction in which the release, distribution or publication would be

Helsinki 12 May 2014 - Herantis Pharma Plc ("Herantis" or the "company") is
launching its initial public offering and will apply for listing of its
shares on First North Finland ("First North"), a multilateral trading
facility operated by NASDAQ OMX Helsinki Ltd. Herantis was formed by
combining two Finnish pharmaceutical companies, Hermo Pharma Ltd and
Laurantis Pharma Ltd, on 29 April 2014.

Herantis is a Finnish pharmaceutical company that researches and creates drugs
for inflammatory, central nervous system and lymphatic diseases. The emphasis
in its development operations is in diseases with a clear unmet clinical need
according to the company's assessment. Herantis focuses on early clinical
development and on drug candidates, which are based on solid scientific
research. Herantis aims at forming commercial partnerships with domestic or
foreign pharmaceutical companies for later stage development.

The Board of Directors of Herantis has on 8 May 2014 decided, as authorised by
the company's shareholders, to launch a directed share issue in which a
maximum of 1,600,000 new shares, with an over-allotment option of a maximum
of 1,000,000 new shares, will be issued for subscription ("offering"). In
addition, the company will apply for listing of its shares on First North.

"The company has three independent drug development programs, and a Board of
Directors and management with experience in every stage of drug development
all the way up to the top management of an international pharmaceutical
company" says Pekka Simula, the Managing Director of Herantis. "We believe
that this makes the company an interesting investment opportunity in a field
of business where product development always contains significant risks."

The subscription period begins on 14 May 2014. The subscription price is EUR
10.50 per share, and the estimated net proceedings of the offering are
expected to be approximately EUR 16.0 million, without the over-allotment
option, and approximately EUR 26.1 million, if also the over-allotment option
is fully subscribed. The offering proceedings are intended to be used for
product development of Herantis, in particular for the clinical studies of
the three main drug candidates. These drug candidates are being developed for
the treatment of dry eye syndrome, Parkinson's disease and secondary
lymphedema resulting from breast cancer.

"Drug development programs are typically lengthy projects and require
significant investment. The offering is launched in order to finance
Herantis' planned drug development until the end of the year 2017, at which
time we expect our operations to become profitable. This requires, among
other things, that the company succeeds in concluding at least one commercial
contract for one of its main drug candidates", says Pekka Mattila, the
Chairman of the Board of Directors of Herantis. "We particularly value the
fact that the current shareholders of the company are not selling their
shares in connection with the offering."

The main shareholders of Herantis currently are Inveni Life Sciences Fund I
Ky, Helsingin yliopiston rahastot (Helsinki University Funds
) and Aloitusrahasto Vera Ltd, an investment fund of Finnvera.

UB Securities Ltd acts as the Lead Arranger and as the subscription place.
Subscriptions can be submitted at the offices of UB Securities Ltd at
Aleksanterinkatu 21 A, 00100 Helsinki and at the website The company's Certified Adviser under the First North
rules is UB Capital Ltd. Krogerus Attorneys Ltd is acting as legal adviser to
the company.

Herantis has compiled a prospectus relating to the offering and the
contemplated listing of its shares on First North, which is available at the
above website of the Lead Arranger, at the company's website at Herantis headquarters at Viikinkaari 4, 00790
Helsinki on or about 14 May 2014.

Key terms and conditions

The subscription period starts on 14 May 2014 at 9:30 a.m. and ends on or
about 30 May 2014 at 4:30 p.m. In case of oversubscription the Board of
Directors of the company has the right to end the subscription period no
earlier than 28 May 2014, however not during banking hours, i.e., between
9:30 a.m. and 4:30 p.m.

The offering consists of a maximum of 1,600,000 new shares and additionally,
in case of oversubscription, an over-allotment option of a maximum of
1,000,000 new shares. The maximum amount of new shares equals approximately
37.3 per cent of the company's shares and votes after the offering, assuming
that all shares are subscribed, and approximately 49.1 per cent assuming that
the over-allotment option is also fully subscribed.

The company expects to announce the result of the offering by way of a company
release on or about 2 June 2014. The new shares issued in the offering are
expected to be registered with the Trade Register on or about 6 June 2014 and
trading in the company's shares on First North is expected to commence on or
about 11 June 2014. The trading code is HRTIS.

The terms and conditions of the offering are attached in their entirety to the
company release in Finnish.

Herantis Pharma Plc
Board of directors

Further information:

Herantis Pharma Plc, Pekka Simula, Managing Director, mobile: +358 40 7300 445
UB Securities Ltd, Herman Segercrantz, Head of Equities, telephone: +358 9
2538 0220,

Herantis Pharma Plc
Herantis Pharma Plc is a pharmaceutical company specialising in introducing
early stage clinical research results for the purposes of clinical research
aiming at developing new drugs. The company focuses on diseases for which
treatment is not known or known treatments are insufficient. These diseases
include for example dry eye syndrome, Parkinson's disease, and secondary


This press release is not a prospectus. The information contained herein does
not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities referred to herein in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration, exemption from registration or qualification under the
securities laws of any jurisdiction. Any such offer will be made solely on
the basis of a prospectus to be published and registered with the Finnish
Financial Supervisory Authority

This document is not an offer for sale nor a solicitation of an offer to buy
any securities in the United States or outside the European Economic Area .
The securities may not be offered or sold in or into the United States of
America absent registration or an exemption from registration under the U.S.
Securities Act of 1933, as amended. Herantis has not registered and will not
register any part of its offering in the United States nor will it offer
securities to the public in the United States.

This communication is only being distributed to and is directed only at (i)
persons who are outside the United Kingdom, or (ii) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") and (iii) high net worth
entities, and other persons to whom it may lawfully be communicated, falling
within Article 49(2) of the Order, and (iv) other persons to whom it may
otherwise lawfully be communicated (all such persons together being referred
to as "relevant persons"). Any investment or investment activity to which
this communication relates will only be available to and will only be engaged
in with, relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its contents

Securities in the company have not been, and will not be, registered under the
applicable securities laws of Australia, Canada or Japan and may not be
offered or sold within Australia, Canada or Japan or to, or for the account
or benefit of, citizens or residents of Australia, Canada or Japan except
under circumstances which will result in full compliance with the applicable
laws and regulations promulgated by the relevant regulatory authorities in
effect at the relevant time.

The company does not offer securities to the public in any Member State of the
European Economic Area other than Finland. With respect to each Member State
of the European Economic Area other than Finland (each, a "Relevant Member
State"), no action has been undertaken to date to make an offer to the public
of the securities requiring a publication of a prospectus in any Relevant
Member State. As a result, the shares may only be offered in Relevant Member
States in circumstances not requiring the company to publish a prospectus as
provided under the Directive 2003/71/EC.

This company release contains forward looking statements. These forward
looking statements include statements that are not historical facts and
statements concerning inter alia Herantis' future revenues, financial
position, financial standing, prospects, growth, strategies and its plans,
beliefs and current expectations in relation to its field of business. By
their very nature, forward looking statements involve inherent risks and
uncertainties, since they relate to events or result from circumstances that
may or may not occur in the future, and therefore they only describe the
circumstances prevailing when the statement is given. Herantis cautions that
forward looking statements or historical facts do not guarantee future
performance and that its true revenues, financial position and financial
standing and the development of the industry may significantly differ from
the forward looking statements presented in this release. The company does
not intend and does not assume any obligation to update any forward looking
statement contained herein.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Herantis Pharma Oyj via Globenewswire


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