ROCKVILLE, Md., July 15, 2015 /PRNewswire/ -- Synthetic
Biologics, Inc. (NYSE MKT: SYN), a clinical-stage company focused
on developing therapeutics to protect the microbiome while
targeting pathogen-specific diseases, today announced that it has
commenced an underwritten public offering of shares of its common
stock. All of the shares in the offering are to be sold by
Synthetic Biologics. The Company intends to grant the underwriters
a 30-day option to purchase up to an additional 15 percent of the
share amount sold to cover over-allotments, if any. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
William Blair & Company,
L.L.C. and RBC Capital Markets, L.L.C. are the joint book-running
managers for the offering. BTIG, L.L.C. is serving as co-manager
for the offering.
Synthetic Biologics anticipates using the net proceeds from the
offering to fund its clinical programs including Phase 2 clinical
candidates, SYN-004 for the prevention of C. difficile and
SYN-010 for the treatment of irritable bowel syndrome with
constipation (IBS-C), research & development, potential
licensing and acquisition of intellectual property, investments in
and acquisition of complementary businesses or partnerships, and
for general corporate purposes.
The shares will be issued by Synthetic Biologics pursuant to a
shelf registration statement that was previously filed with, and
declared effective on April 20, 2015,
by the Securities and Exchange Commission (SEC). A preliminary
prospectus supplement related to the offering has been filed with
the SEC and is available on the SEC's website located at
www.sec.gov. A final prospectus supplement related to the offering
will be filed with the SEC.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer, if at all, will be made only by means of a
prospectus supplement and accompanying prospectus forming a part of
the effective registration statement, copies of which may be
obtained, when available, from William
Blair & Company, L.L.C., Attention: Prospectus
Department, 222 West Adams Street, Chicago, IL 60606, by telephone at (800)
621-0687, or by e-mail at prospectus@williamblair.com. RBC Capital
Markets, L.L.C., Attention: Equity Syndicate, 200 Vesey Street,
8th Floor, New York, NY
10281-8098, or by telephone at (877) 822-4098.
About Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE MKT: SYN) is a
microbiome-focused, clinical-stage company developing
therapeutics to protect the microbiome while targeting
pathogen-specific diseases. The Company's lead candidates in
Phase 2 development include SYN-004 which is designed to protect
the gut microbiome from the effects of certain commonly used
intravenous (IV) antibiotics for the prevention of C.
difficile infection and antibiotic-associated diarrhea (AAD),
and SYN-010 which is intended to reduce the impact of methane
producing organisms in the gut microbiome to treat the underlying
cause of irritable bowel syndrome with constipation (IBS-C). In
addition, the Company is developing a Phase 2 oral estriol drug,
Trimesta, for the treatment of relapsing-remitting multiple
sclerosis (MS) and cognitive dysfunction in MS, and a monoclonal
antibody combination for the treatment of Pertussis. For more
information, please visit Synthetic Biologics' website at
www.syntheticbiologics.com.
This release includes forward-looking statements on Synthetic
Biologics' current expectations and projections about future
events. In some cases forward-looking statements can be identified
by terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These statements are based
upon current beliefs, expectations and assumptions and are subject
to a number of risks and uncertainties, many of which are difficult
to predict and include statements with respect to this
offering and the successful execution of the Company's business
strategy, including its intended use of proceeds. The
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those set
forth or implied by any forward-looking statements. Important
factors that could cause actual results to differ materially from
those reflected in Synthetic Biologics' forward-looking statements
include, among others, the additional clinical studies and
results not meeting expectations, the inability to commence and
complete clinical trials when anticipated and other factors
described in Synthetic Biologics' report on Form 10-K for the year
ended December 31, 2014 and any other
filings with the SEC. The information in this release is provided
only as of the date of this release, and Synthetic Biologics
undertakes no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
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SOURCE Synthetic Biologics, Inc.