BRIEF—Hybrigenics receives takeover offer

French biopharma company Hybrigenics has received a takeover offer through a partial asset transfer from a French public company listed on Euronext, which does not wish to be named at this stage of discussions under confidentiality agreement.

The proposed transferred asset would be a subsidiary of this company; this subsidiary already has revenue and active R&D projects in the field of biotechnology.

Hybrigenics’ board of directors intends to perform the necessary due diligence, checks and appropriate analysis to determine the best conditions at which this operation could be structured to be proposed for potential approval to the shareholders.

In the current status of its knowledge of the proposal, Hybrigenics’ board of directors thinks that this offer could represent an alternative preferable to the winding-up of the company considered so far.

Besides, the board took note of the withdrawal of the non-solicited proposal by Moonstone Investments, which did not show, to its opinion, the same level of maturity.