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Oryzon Genomics Receives 1.3M USD Public Aids to Advance Development of its Epigenetic Inhibitors

BARCELONA, Spain and CAMBRIDGE, Mass., Dec. 30, 2015 (GLOBE NEWSWIRE) -- Oryzon Genomics – ORY (ISIN Code: ES0167733015), a clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in oncology and neurodegenerative diseases, announced today that the company was granted two unsecured concessional loans from the Ministry of Economy and Competitiveness, Government of Spain, and with the participation of the UE (FEDER funds). The loan was included under the RETOS Collaboration 2015 program. Oryzon will receive approximately 1.3M USD (multiyear disbursements) for further development of its epigenetic inhibitors against neurodegenerative and oncologic indications.

The two loans will cover the funding of two projects, which are currently being worked on under the leadership of Oryzon in collaboration with various public and private institutions. Both projects carry a 34 month duration starting from March 1, 2015 and ending December 31, 2017. The loans are to be reimbursed during 10 years, including a 3-year grace period. The loans have a subsidized fixed interest rate of 0.329%. Additionally, the public institutions that collaborate in these projects will receive the funds to cover all the costs of their experimental research from the Government in the form of a non-refundable grant.

One of the loans relates to the project entitled “Evaluation of the efficacy of epigenetic inhibitors in experimental models of human pathologies”, which will be performed in collaboration with Autonomous University of Barcelona and Bosch i Gimpera Foundation. The total budget of this project is approximately 1.1M USD. The project encompasses further investigations of the role of ORY-2001 and other compounds in various neurological disorders, such as Huntington’s disease.

The other loan will be utilized to fund the project entitled “Discovery and combination of new therapies for the treatment of cancer based on the modulation of epigenetic targets and the receptors of adenosine.” The participants for this project include Oryzon, Palo Biopharma, the University of Santiago de Compostela and Leitat Technological Center, all located within Spain. The total budget for this project is close to 1.7M USD. This project is dedicated to exploring the role of new inhibitors directed to epigenetic targets other than LSD1 in cancer. The project will also examine the potential synergies of new epigenetic inhibitors with Adenosine receptor antagonists.

Carlos Buesa, President and Chief Executive Officer of Oryzon, commented, “The two RETOS Collaboration 2015 loans are an excellent addition to Oryzon’s growing list of public aids. We are pleased to receive funding that will support the advancement of our research and development programs. These grants are valuable in providing Oryzon with the necessary funding to develop our assets and in showing that our technology has been reviewed and validated by a panel of scientific independent experts.”

About Oryzon

Founded in 2000 in Barcelona, Spain, Oryzon - ORY (ISIN Code: ES0167733015), is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field and a clinical asset already partnered with ROCHE. Oryzon’s LSD1 program is currently covered by 19 patent families and has rendered one compound in clinical trials and another one is anticipated to enter clinical trials in early 2016. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has also a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon’s strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or out-license the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com.

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking information and statements about Oryzon Genomics, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates” and similar expressions.

Although Oryzon Genomics, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Oryzon Genomics, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Oryzon Genomics, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Oryzon Genomics, S.A. to the Comisión Nacional del Mercado de Valores, which are accessible to the public.

Forward-looking statements are not guarantees of future performance. The auditors of Oryzon Genomics, S.A, have not reviewed them. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Oryzon Genomics, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Oryzon Genomics, S.A. on the date hereof. Except as required by applicable law, Oryzon Genomics, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

US Contact: The Ruth Group Lee Roth/Tram Bui (646) 536-7012/7035 lroth@theruthgroup.com tbui@theruthgroup.com Spain: ATREVIA Ana Melgar/Patricia Cobo +34 91 564 07 25 amelgar@atrevia.com pcobo@atrevia.com The Company: Ms. Anna K Baran IR Director +44 (0) 752 1083 006 abaran@oryzon.com

Source: Oryzon