ERYP - ERYTECH divests US manufacturing facility for $44.5M and enters long-term supply pact with Catalent

ERYTECH Pharma (NASDAQ:ERYP) announced the sale of its US manufacturing facility to Catalent, a leading contract development and manufacturing organization in advanced therapies for a total consideration of $44.5M. Per the terms of an asset purchase pact, Catalent agreed to acquire ERYTECH’s state-of-the-art commercial-scale cell therapy manufacturing facility in Princeton, New Jersey. Concurrently, both parties enters into a long-term supply agreement for clinical and commercial supply of eryaspase (GRASPA®). The transaction expected to reduce operating expenses for ERYTECH and brings ERYTECH’s cash to ~EUR 55M ($60 million), and extends cash runway to mid-2024 ERYTECH is evaluating valuable strategic options to leverage its ERYCAPS® platform and its development and manufacturing capabilities with complementary assets and/or a broader corporate transaction.

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ERYTECH divests US manufacturing facility for $44.5M and enters long-term supply pact with Catalent