Brief: EIB Supports AB Science In COVID-19 Development Programme

AB Science SA

30/11/2020 06:15

Nov 30 (Reuters) - AB SCIENCE SA  ABS.PA :
    * REG-EIB SUPPORTS AB SCIENCE IN ITS COVID-19 DEVELOPMENT
PROGRAMME
    * FINANCING DEAL WORTH EUR 15.0 MILLION SIGNED TO SUPPORT
CLINICAL
DEVELOPMENT PROGRAMME FOR MASITINIB
    * THIS AGREEMENT WILL ENABLE AB SCIENCE TO FUND CLINICAL
DEVELOPMENT PROGRAMME EVALUATING MASITINIB AS A TREATMENT FOR
COVID-19.
    * INITIAL PARTNERSHIP WITH EIB MIGHT BE EXPANDED IN FUTURE,
AS
DISCUSSIONS ALREADY UNDERWAY ABOUT ADDITIONAL FINANCING FOR
OTHER INDICATIONS IN WHICH MASITINIB IS OR COULD BE EVALUATED,
FOR MAXIMUM BUDGET OF EUR 30.0 MILLION
    * COVID-19 LOAN CONSISTS OF TWO TRANCHES OF EUR 6 MILLION
EACH,
AND A THIRD TRANCHE WORTH EUR 3 MILLION.
    * FIRST TRANCHE IS EXPECTED TO BE RELEASED IN COMING WEEKS
    * REMAINING TWO TRANCHES WILL BE MADE AVAILABLE AT A LATER
STAGE,
SUBJECT TO CERTAIN MILESTONES

Source text for Eikon:  ID:nGNE3C32P5 
Further company coverage:  ABS.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))