AzurRx BioPharma Enters into $15 Million Equity Purchase Agreement with Lincoln Park Capital Fund

VCBeat (WeChat ID: vcbeat) viaForeign MediaIt was reported that in 201911Month14Day, United StatesShengBiopharmaceutical company AzurRx（AzurRx BioPharma）AnnouncementRather than being located atChicago'sLong-Term Investor Lincoln Park（Lincoln Park Capital Fund）Entered into a $15 million common stock purchase and registration rights agreement.

In the aforementioned transaction,Securities Offering and Sale by AzurRxAgreementNot yet based on the revised《Securities Act of 1933(hereinafter referred to as the "Securities Law")ConductRegistrationregistered, nor under any state securities lawsRegistrationorObtain qualification. If notPursuant to the Securities Law, state securities laws,"Blue Sky" LawRegisteror failing to obtain the applicable registration requirementsExemption, such securities shall not be offered or sold in the United States. Currently,AzurRx has agreed to file with the SECOne copyRegistration Statement,RegistrationCommon shares purchased by Lincoln Park pursuant to the purchase agreement.

Pursuant to the Purchase Agreement,AzurRx shall have the right toFollowing satisfaction of the conditions under the purchase agreement,Sales to Lincoln Park within 30 monthsAt most$15 Million in Stock. In registering pursuant to the purchase agreement withLincoln ParkThe classification statement for the sale of stocks wasU.S. Securities and Exchange Commission (SEC）Upon taking effect,Within 30 monthsAzurRxAt its sole discretionResale of SharesToLincoln Park 。

AzurRxHave the authority to decideCorrectLincoln ParkResale Sharestime and amount, whileLincoln ParkthenObligation to procure in accordance with the procurement agreement. Sold toLincoln Parkof any common sharesthe acquisition price shall be consistent withThe Company's Current Market Price at Each SaleConsistency, andLincoln ParkThere is no cap on the price for purchasing common shares.

As part of the agreement,Lincoln Park agrees not to cause orMakeAny direct or indirect short selling or hedgingBehavior of AzurRx Common Stock. No warrants will be issued in this transaction., andAzurRx’s sale to Lincoln Park pursuant to the Purchase AgreementSharesof the proceeds obtainedUsageThere are no restrictions. Furthermore, the purchase agreement does not include any right of first refusal in favor of either party.、Right to Participate、Fines or Liquidated DamagesofRegulations.Therefore,AzurRx may terminate this Agreement at any time at its sole discretion,andNo additional fees or penalties will be incurred.

AzurRxofPresident and Chief Executive OfficerJames Sapirstein saidTo：“AzurRx has focused its financing strategy on a low-cost solution with minimal dilutive terms to provide working capital. We believe the Lincoln Park agreement will help the Company achieve its planned objective of advancing its lead program, MS1819-SD, for the treatment of exocrine pancreatic insufficiency in a capital-efficient manner. Importantly, the agreement with Lincoln Park provides the Company with the flexibility to raise capital opportunistically as it progresses toward clinical milestones.”

AzurRx BioPharma Founded inIn 2014,Headquartered in New York, with a research facility in Lannemezan, France, it is a biopharmaceutical company in the R&D stage.The companyAtListed in 2016 at an offering price of $5.5 per share. The company primarily develops recombinant enzymes for the treatment of gastrointestinal diseases and gut microbiota-related disorders. It currently has two products: MS1819, a recombinant lipase for the treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis and chronic pancreatitis; and AZX1101, a recombinant enzyme for the prevention of acquired Clostridium difficile infection (CDI).

(Compiled by Wang Fang)