Oryzon Genomics — Capital raise to support long-term strategy

Oryzon has secured €30m through an equity raise (straight equity, no warrants attached) to support clinical development activities and other corporate initiatives, offering the potential to extend its cash runway well into 2027. Management communicated that the offering was significantly oversubscribed with strong investor demand, noting that €15m of the round was anchored by a US-based institutional investor, with the remaining demand filled by investors across the US, Europe and Spain. We view the announcement as an important development for Oryzon, especially considering the overall macroeconomic environment. The next key inflection point remains FDA clearance for its Phase III programme in borderline personality disorder (BPD), anticipated within H125.