Brief: Geneuro Seals 7.5 Million Euro Financing Agreement With Institut Mérieux Subsidiary

Geneuro SA

20/12/2018 16:56

Dec 20 (Reuters) - GENEURO SA  GNRO.PA :
    * GENEURO SEALS A €7.5 MILLION FINANCING AGREEMENT WITH ITS
SHAREHOLDER GNEH, A SUBSIDIARY OF INSTITUT MÉRIEUX
    * CONTINUED DISCUSSIONS WITH PHARMACEUTICAL GROUPS ON
PARTNERSHIPS
FOR DEVELOPMENT OF GNBAC1 IN MULTIPLE SCLEROSIS
    * COMPANY WILL PROCEED WITH ITS PRE-CLINICAL DEVELOPMENT
PLAN FOR
ANTIBODIES TARGETING PHERV-K AS PART OF THE TREATMENT OF
AMYOTROPHIC LATERAL SCLEROSIS (AMS) OR LOU GEHRIG’S DISEASE IN
2019
    * IN CASE OF DRAW-DOWN, BORROWINGS WILL BE BEAR INTEREST AT
A RATE
INCREASING PROGRESSIVELY UP TO 12% P.A. UNTIL JUNE 2020.
    * THE GOAL IS TO COMMENCE CLINICAL TRIALS BY MID-2020
    * PLANS TO FINALIZE ITS PARTNERSHIP STRATEGY IN MS DURING
2019
    * DEPENDING ON OUTCOME OF PARTNERSHIP DISCUSSIONS, COMPANY
COULD
POTENTIALLY CARRY OUT SUCH A CAPITAL INCREASE BEFORE END OF
FIRST HALF 2019.
    * FINAL 12-MONTH RESULTS OF PHASE IIA RAINBOW STUDY ARE
ANTICIPATED EARLY IN Q2 OF 2019
    * TO PROCEED WITH ITS PRE-CLINICAL DEVELOPMENT PLAN FOR
ANTIBODIES
TARGETING PHERV-K AS PART OF TREATMENT OF AMYOTROPHIC LATERAL
SCLEROSIS (AMS) IN 2019
    * GOAL IS TO COMMENCE CLINICAL TRIALS BY MID-2020

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