Issuance of a 5th tranche of 3 millions EUR of notes convertible into new shares

Issuance of a 5th tranche of 3 millions EUR of notes convertible into new shares




Issuance of a 5th tranche of 3 millions EUR of notes convertible into new shares

ISSUANCE OF A 5th TRANCHE OF 3 MILLIONS EUR OF NOTES CONVERTIBLE INTO NEW SHARES

DEINOVE strengthens its cash position to finance the ongoing clinical trial testing DNV3837 for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile

DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company pioneering the exploration and exploitation of bacterial biodiversity to address the urgent and global challenge of antimicrobial resistance, announces today the issuance of a 5th tranche of notes convertible into new shares (the “OCA“) as part of the agreement entered into on July 9, 20191 with the European Select Growth Opportunities Fund (the “Investor“) relating to a financing through the issuance of OCA for a maximum nominal amount of €15 million, with a 6.5% face discount upon conversion into shares, not bearing interest and with no stock subscription warrants attached, over a maximum period of 24 months.

This 5th tranche is composed of 300 OCA with a nominal value of EUR 10,000 each, representing a total amount of EUR 3,000,000, fully subscribed by the Investor today, in accordance with the contract signed on July 9, 2019.

The characteristics of the OCA and their theoretical dilutive impact are detailed in the press release dated July 9, 2019. DEINOVE recalls that all of the 220 OCA issued under the first tranche, the 100 OCA issued under the second tranche and the 150 issued under the third tranche have been converted to date. Concerning the 150 OCA issued under the fourth tranche, 16 have not yet been converted.

The objective of this issue for DEINOVE is to continue the Phase II clinical trial in the United States testing DNV3837, its most advanced antibiotic candidate for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile.

It is further recalled that DEINOVE and the Investor entered on April 2, 2020 into an amendment to the contract concluded on July 9, 20192.

 

ABOUT DEINOVE

DEINOVE is a French biotechnology company pioneering the exploration of a new domain of life, unexplored at 99.9%: the “microbial dark matter”. By revealing the metabolic potential of rare bacteria or still classified as uncultivable, it tackles a global health and economic challenge: antimicrobial resistance. The new therapies discovered and developed by DEINOVE target superbugs (microbes that have become resistant to one or more antimicrobials) that cause life-threatening infections which are now spreading at high speed.

This breakthrough approach gave rise to one of the world’s first specialized micro-biotechnology platforms and a unique collection of nearly 10,000 rare strains and thousands of bacterial extracts. Today, DEINOVE is conducting several development programs, of which its first antibiotic candidate is currently evaluated in a Phase II clinical trial in severe Clostridioides difficile infections, one of the world’s first emergencies. The Company has also developed new bacterial micro-factories that address the other issue in the race against antimicrobial resistance: the industrial production of these rare and low concentrated compounds with often too complex chemical structures to be generated by chemical synthesis.
Located at the heart of the Euromedecine park in Montpellier, DEINOVE has been listed on EURONEXT GROWTH® (ALDEI – code ISIN FR0010879056) since 2010. The Company has over 50 employees and relies on a network of world-class academic, technological, industrial and institutional partners.

 

CONTACTS

Investors

Mario Alcaraz

Chief Financial and Administrative Officer

+33 (0)4 48 19 01 00

ir@deinove.com

Media             

ATCG Partners – Marie PUVIEUX

+33 (0)9 81 87 46 72 / +33 (0)6 10 54 36 72

communication@deinove.com

 

 


1Press release dated July 9, 2019 available on the Company’s website

2Press release dated April 3, 2020 available on the Company’s website

 

 

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