2020

08.04.2020 – Santhera Pharmaceuticals Holding AG

Santhera Enters into Equity-linked Financing to Provide up to CHF 12 million with the Option to Increase to up to CHF 24 million


Pratteln, Switzerland, April 8, 2020 – Santhera Pharmaceuticals (SIX: SANN) announces that it has entered into an equity-linked financing arrangement with IRIS (France) in the initial gross amount of up to CHF 12 million over 12 months, with the option to extend by another CHF 12 million over another 12 months. IRIS will receive Santhera shares to be created from the Company’s authorized capital and is expected to sell these shares on the market or in block trades. It remains at the sole discretion of Santhera to suspend or terminate the staggered financing.

The equity-linked financing has been established to provide additional liquidity in support of the Company’s ongoing regulatory and development programs in the aggregate gross amount of up to CHF 24 million over a period of up to 24 months.

Subject to certain conditions, IRIS will fund up to 12 tranches of nominal CHF 1 million each in a staggered manner. In exchange, IRIS will receive Santhera shares at a discount to the applicable volume weighted average price (VWAP).

During the term of the financing, IRIS is expected to sell shares on the market or in block trades under a share lending arrangement with Santhera.

In connection with the financing, Santhera will issue shares out of its authorized share capital in compliance with Santhera’s articles of incorporation, the Board of Directors has excluded the preemptive rights of the existing shareholders.

Santhera has the option to extend this financing in the aggregate gross amount of up to additional CHF 12 million over a further period of up to 12 months after the initial period, under similar terms and conditions.

About Santhera

Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative medicines for rare neuromuscular and pulmonary diseases with high unmet medical need. Santhera is building a Duchenne muscular dystrophy (DMD) product portfolio to treat patients irrespective of causative mutations, disease stage or age. A marketing authorization application for Puldysa® (idebenone) is currently under review by the European Medicines Agency. Santhera has an option to license vamorolone, a first-in-class anti-inflammatory drug candidate with novel mode of action, currently investigated in a pivotal study in patients with DMD to replace standard corticosteroids. The clinical stage pipeline also includes lonodelestat (POL6014) to treat cystic fibrosis (CF) and other neutrophilic pulmonary diseases, as well as omigapil and an exploratory gene therapy approach targeting congenital muscular dystrophies. Santhera out-licensed ex-North American rights to its first approved product, Raxone® (idebenone), for the treatment of Leber's hereditary optic neuropathy (LHON) to Chiesi Group. For further information, please visit www.santhera.com.

Raxone® and Puldysa® are trademarks of Santhera Pharmaceuticals.

For further information please contact:

public-relations@santhera.com or

Eva Kalias, Head External Communications

Phone: +41 79 875 27 80

eva.kalias@santhera.com

Disclaimer / Forward-looking statements

This communication is not intended to constitute an offer or solicitation to purchase or invest in any securities of Santhera Pharmaceuticals Holding AG (the “Company”). The securities of the Company to which this communication relates have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in or into the United States. No action has been taken by the Company that is intended to permit a public offering of the securities to which this communication relates in any jurisdiction.

This document may contain certain forward-looking statements relating to the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update any such forward-looking statements.

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