• Merger approved with large majority by the shareholders of both companies
• New governance structure implemented
• Ambition to create a global leader in extended phage therapies to target antimicrobial resistant pathogenic bacteria

“In February this year, we announced our strategic plans with PHERECYDES, with the intent to build a global leader in phage therapy and address the huge medical need caused by antimicrobial resistance. I am very pleased that this merger has now been approved with a large majority by our shareholders”, said Gil Beyen, former Chief Executive Officer of ERYTECH. “I am now passing the lead to Thibaut Du Fayet as the new CEO and wish him and the entire management team success in implementing PHAXIAM’s ambitious strategy. I take the occasion to thank all current and former ERYTECH employees and fellow board members for their dedication and enthusiasm for our project over the past 10 years.”

“I am very proud to have the opportunity to continue the PHERECYDES project within PHAXIAM therapeutics and to be able to deploy it more widely by capitalizing on the skills and talents of all ERYTECH and PHERECYDES employees; Our ambition is to strengthen PHAXIAM therapeutics' competitive position as an undisputed leader in phage therapy worldwide, serving patients”, said Thibaut du Fayet, incoming Chief Executive Officer of PHAXIAM.

The combination will draw on the complementary expertise and resources of the two companies to accelerate the development of a global phage therapy portfolio, aimed at combating antimicrobial resistance (AMR), a globally recognized health issue. AMR is currently responsible for more than one million deaths per year worldwide and is expected to grow to more than 10 million annual casualties by 2050. For reference, the estimated worldwide number of cancers is currently around 10 million per year.

The Company is developing a pipeline of clinical stage extended phage therapies and expects significant value creation milestones in the next two years.

• Results of the ongoing PhagoDAIR Phase 2 trial in patients with knee or hip prosthetic joint infections (PJI) due to Staphylococcus aureus (S. aureus), anticipated in Q1 2024
• Launch of Phase 1 trial in patients with endocarditis due to S. aureus expected in mid-2023, with results expected by S1 2024
• Launch of Phase 1 trial in patients with complex urinary tract infections due to E. coli expected in Q1 2024, with results expected in S2 2024
• Expansion of bacteriophage portfolio targeting two additional pathogens, critical in developing a comprehensive target portfolio in the fight against resistant bacterial infections

Furthermore, the company is building a research & development strategy leveraging on complementary Platforms and Capabilities, to support phage and endolysins therapeutic approaches in anti -infectives fields like AMR and other, such, food, cosmetics and animal health; or phage as carriers.

The board of directors of PHAXIAM is composed of an equal number of directors from the former ERYTECH and PHERECYDES boards (without casting vote for the Chair), and is constituted of:

• Didier Hoch, Chairman
• Gil Beyen, Vice Chairman
• Philippe Archinard, Independent Director
• Martine George, Independent Director
• Eric Leire, Independent Director
• Go Capital, represented by Leila Nicolas
• Guy Rigaud, Observer
• Robert Sebbag, Independent Director
• Hilde Windels, Independent Director
  
  

The executive team of PHAXIAM is composed of the combination of previous ERYTECH and PHERECYDES management teams:

• Thibaut du Fayet, CEO
• Eric Soyer, COO, CFO and Deputy CEO
• Jérôme Bailly, CQO and Deputy CEO
• Pascal Birman, CMO
• Céline Breda, CTO
• Karine Charton, CBO
• Cindy Fevre, CSO
• Anne-Cécile Fumey, VP HR
• Frédérique Vieville, CRO