Brief: Adocia Grants Sanofi Exclusive Right To Negotiate Partnership On M1Pram For 10 Million Euros, Obtains Commitment From Investors To Provide 10 Million Euros In Financing

Adocia SA

05/07/2023 17:43

July 5 (Reuters) - Adocia SA  ADOC.PA :
    * ADOCIA GRANTS SANOFI AN EXCLUSIVE RIGHT TO NEGOTIATE A
PARTNERSHIP ON M1PRAM FOR 10 MILLION EUROS AND OBTAINS
COMMITMENT FROM INVESTORS TO PROVIDE 10 MILLION EUROS IN
FINANCING
    * ADOCIA WILL PROCEED WITH EARLY REPAYMENT OF ITS DEBT TO
IPF
PARTNERS, ITS MAIN LENDER
    * SANOFI PAYS ADOCIA 10 MILLION EUROS IN EXCHANGE OF AN
EXCLUSIVE
NEGOTIATION RIGHT ON M1PRAM PRODUCT WITH A VIEW TO ESTABLISH A
GLOBAL PARTNERSHIP
    * ADOCIA HAS OBTAINED COMMITMENTS FROM INVESTORS INCLUDING
BPIFRANCE AND GÉRARD SOULA TO PARTICIPATE IN A CAPITAL INCREASE
OF 5 MILLION EUROS, AND FROM VESTER FINANCE TO SIMULTANEOUSLY
ISSUE CONVERTIBLE BONDS FOR AN ADDITIONAL 5 MILLION EUROS IN A
SINGLE TRANCHE
    * ADOCIA'S ORDINARY SHARES WILL RESUME TRADING ON EURONEXT
PARIS
ON THURSDAY JULY 6, 2023, AT 9:00 AM CEST
    * AS A RESULT OF FINANCIAL TRANSACTIONS DESCRIBED ABOVE,
COMPANY
SHOULD RECEIVE 20 MILLION EUROS BY END OF JULY 2023, AND WILL
REPAY 9.8 MILLION EUROS TO ITS LENDER IPF PARTNERS
    * COMPANY ALSO INTENDS TO PRIORITIZE ITS PRODUCT PORTFOLIO
IN
ORDER TO EXTEND ITS CASH HORIZON TO END OF Q2 2024
    * COMPANY ALSO EXPECTS TO RECEIVE TWO PAYMENTS FROM ITS
PARTNERSHIP WITH TONGHUA DONGBAO IN 2024
    * PAYMENTS WOULD PROVIDE COMPANY WITH SUFFICIENT CASH UNTIL
END OF
2024

Source text for Eikon:  ID:nBwvpY3ha 
Further company coverage:  ADOC.PA 

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