Erytech raises EUR 30M in follow-on

Erytech Pharma S.A. (Euronext:ERYP) raised EUR 30 million ($38.2 million) through the sale of 1.2 million shares at EUR 24.50 in a follow-on. U.S. investors provided 68% of the funds.

Erytech will use the money to further develop lead compound Graspa, including an ongoing study to treat acute lymphoblastic leukemia (ALL) and an additional planned study in the U.S. Erytech also plans to run two new Phase II or Phase III studies in oncology or hemato-oncology. ...