GENFIT obtains non-dilutive financing of €11 million in the form of a State Guaranteed Loan
24 Giugno 2021 - 10:10PM
Lille, France; Cambridge,
MA;
June 24,
2021 - GENFIT (Nasdaq and Euronext:
GNFT), a late-stage biopharmaceutical company dedicated to
improving the lives of patients with metabolic and liver diseases,
today announced the securing of a €11 million non-dilutive loan
guaranteed by the French government (known as a State-Guaranteed
Loan or Prêt Garanti par l’Etat in French).
The loan, granted in the context of the COVID-19
pandemic by a syndicate of French banks, is 90% guaranteed by the
French government with an initial term of one year with repayment
options up to six years.
Pascal
Prigent, CEO
of GENFIT, commented: “GENFIT
thanks the French government for creating this financing mechanism
as well as the partner banks for their support: BNP Paribas,
Natixis, CIC Nord Ouest and Crédit du Nord. This loan contributes
to strengthening our financial visibility and enabling us to remain
fully committed to the execution of our strategy. I would also like
to take this opportunity to remind our shareholders that we are
counting on their support to meet the quorum at the Extraordinary
General Meeting on June 30, 2021 – the aim of which will be to
allow GENFIT to have the tools to accelerate the renewal of the
Company’s strategy.”
ABOUT GENFIT
GENFIT is a late-stage biopharmaceutical company
dedicated to improving the lives of patients with cholestatic and
metabolic chronic liver diseases. GENFIT is a pioneer in the field
of nuclear receptor-based drug discovery, with a rich history and
strong scientific heritage spanning more than two decades. GENFIT
is currently enrolling in ELATIVE™, a Phase 3 clinical trial
evaluating elafibranor in patients with Primary Biliary Cholangitis
(PBC). Elafibranor is an investigational compound that has not been
reviewed and has not received approval by any regulatory authority.
As part of GENFIT’s comprehensive approach to clinical management
of patients with liver disease, the Company is also developing
NIS4®, a new, non-invasive blood-based diagnostic technology which
could enable easier identification of patients with at-risk NASH.
In January 2019, GENFIT signed a licensing agreement with Labcorp®
to make NIS4® technology available for use in clinical research
through their drug development subsidiary, Covance. In September
2020, GENFIT signed another licensing agreement with Labcorp to
commercialize NIS4® in the US and Canada as a Laboratory Developed
Test. Since April 2021, Labcorp has commercialized NASHnext™,
powered by NIS4®, for use in the clinic. GENFIT also continues to
explore opportunities to obtain formal marketing authorization of
an in vitro diagnostic (IVD) test supported by NIS4® technology.
For more information, please visit: https://nis4.com. GENFIT has
facilities in Lille and Paris, France, and Cambridge, MA, USA.
GENFIT is a publicly traded company listed on the Nasdaq Global
Select Market and on compartment B of Euronext’s regulated market
in Paris (Nasdaq and Euronext: GNFT). www.genfit.com
GENFIT FORWARD LOOKING
STATEMENTS
This press release contains certain
forward-looking statements with respect to GENFIT, including those
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding the Company’s financing.
The use of certain words, including “consider”, “contemplate”,
“think”, “aim”, “expect”, “understand”, “should”, “aspire”,
“estimate”, “believe”, “wish”, “may”, “could”, “allow”, “seek”,
“encourage” or “have confidence” or (as the case may be) the
negative forms of such terms or any other variant of such terms or
other terms similar to them in meaning is intended to identify
forward-looking statements. Although the Company believes its
projections are based on reasonable expectations and assumptions of
the Company’s management, these forward-looking statements are
subject to numerous known and unknown risks and uncertainties,
which could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
statements. These risks and uncertainties include, among other
things, the uncertainties inherent in research and development,
including in relation to safety, biomarkers, progression of, and
results from, its ongoing and planned clinical trials, review and
approvals by regulatory authorities of its drug and diagnostic
candidates, exchange rate fluctuations and the Company’s continued
ability to raise capital to fund its development, as well as those
risks and uncertainties discussed or identified in the Company’s
public filings with the French Autorité des Marchés Financiers,
including those listed in Chapter 2 “Main Risks and Uncertainties”
of the Company’s 2020 Universal Registration Document filed with
the AMF on 23 April 2021 under n° D.21-0350, which is available on
the Company’s website (www.genfit.com) and on the website of the
AMF (www.amf-france.org) and public filings and reports filed with
the U.S. Securities and Exchange Commission (“SEC”) including the
Company’s 2020 Annual Report on Form 20-F filed with the SEC on
April 23, 2021. In addition, even if the Company’s results,
performance, financial condition and liquidity, and the development
of the industry in which it operates are consistent with such
forward-looking statements, they may not be predictive of results
or developments in future periods. These forward-looking statements
speak only as of the date of publication of this document. Other
than as required by applicable law, the Company does not undertake
any obligation to update or revise any forward-looking information
or statements, whether as a result of new information, future
events or otherwise.
CONTACT
GENFIT | Investors
Tel: +1 (617) 714 5252 |
investors@genfit.com
PRESS RELATIONS | Media
Stephanie Boyer – Press relations | Tel: +333
2016 4000 | stephanie.boyer@genfit.com
GENFIT | 885 Avenue Eugène Avinée, 59120 Loos -
FRANCE | +333 2016 4000 | www.genfit.com
- GENFIT obtains non-dilutive financing of €11 million in the
form of a State Guaranteed Loan
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