Oncodesign Obtains €15.9 Million of Non-dilutive Financing in the Form of a State-Guaranteed Loan Within the Context of The...
06 Ottobre 2020 - 5:45PM
Business Wire
This financing allows Oncodesign to have a current cash
position of €31.2 million and to continue its growth strategy
without any slowdown
Regulatory News:
ONCODESIGN (Paris:ALONC) (ALONC – FR0011766229), a
biopharmaceutical group specialized in precision medicine, has
received the agreement in principal of its banking partners to
obtain a State-Guaranteed Loan of €15.9 million.
This loan, 90% guaranteed by the French State within the
framework of the State-Guaranteed Loan (decrees of March 23 and
April 17, 2020 enabling credit establishments and finance companies
to benefit from a State guarantee, amending the Finance Act n°
2020-289 of March 23, 2020), will have a 1-year maturity that may
be extended for up to a further 5 years (September 2026) at the
Company’s discretion.
This new funding, requested within the framework of the measures
adopted by the French government to support French companies in the
face of the ongoing public health crisis, allows the Company to
benefit from the support of Bpifrance, Crédit Agricole
Champagne-Bourgogne, Caisse d’Epargne Bourgogne Franche Comté, CIC
Lyonnaise de Banque and Société Générale.
Philippe GENNE, Chairman and Chief Executive Officer of
Oncodesign, says: “We would like to thank our banking partners
and the French State for their support and their renewed trust in
our company. This support will enable us to be better equipped to
face the uncertainty generated by the public health situation,
which looks as if it may persist through to the end of the year,
and to thus calmly pursue our activity with a
significantly-strengthened cash position”.
About ONCODESIGN: www.oncodesign.com
Founded 25 years ago by Dr. Philippe Genne, the Company’s CEO
and Chairman, Oncodesign is a biopharmaceutical company dedicated
to precision medicine. With its unique experience acquired by
working with more than 800 clients, including the world’s largest
pharmaceutical companies, along with its comprehensive
technological platform combining state-of-the-art medicinal
chemistry, pharmacology, regulated bioanalysis, medical imaging and
Artificial Intelligence, Oncodesign is able to predict and
identify, at a very early stage, each molecule's therapeutic
usefulness and potential to become an effective drug. Applied to
kinase inhibitors, which represent a market estimated at over $65
billion by 2027 and accounting for almost 25% of the pharmaceutical
industry’s R&D expenditure, Oncodesign’s technology has already
enabled the targeting of several promising molecules with
substantial therapeutic potential, in oncology and elsewhere, along
with partnerships with pharmaceutical groups such as Servier.
Oncodesign is based in Dijon, France, in the heart of the town’s
university and hospital hub, and within the Paris-Saclay cluster.
Oncodesign has 233 employees and subsidiaries in Canada and the
USA.
Disclaimer
This press release contains certain forward - looking statements
and estimates concerning the Company’s financial condition,
operating results, strategy, projects and future performance and
the markets in which it operates. Such forward-looking statements
and estimates may be identified by words such as “anticipate,”
“believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is
designed to,” “may,” “might,” “plan,” “potential,” “predict,”
“objective,” “should,” or the negative of these and similar
expressions. They incorporate all topics that are not historical
facts. Forward looking statements, forecasts and estimates are
based on management’s current assumptions and assessment of risks,
uncertainties and other factors, known and unknown, which were
deemed to be reasonable at the time they were made but which may
turn out to be incorrect. Events and outcomes are difficult to
predict and depend on factors beyond the Company’s control.
Consequently, the actual results, financial condition, performances
and/or achievements of the Company or of the industry may turn out
to differ materially from the future results, performances or
achievements expressed or implied by these statements, forecasts
and estimates. Owing to these uncertainties, no representation is
made as to the correctness or fairness of these forward-looking
statements, forecasts and estimates. Furthermore, forward-looking
statements, forecasts and estimates speak only as of the date on
which they are made, and the Company undertakes no obligation to
update or revise any of them, whether as a result of new
information, future events or otherwise, except as required by
law.
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Oncodesign Philippe Genne Chairman and CEO Tel. : +33
(0)3 80 78 82 60 investisseurs@oncodesign.com
NewCap Investor Relations Mathilde Bohin /
Louis-Victor Delouvrier Tel. : +33 (0)1 44 71 94 95
oncodesign@newcap.eu
NewCap Media Relations Arthur Rouillé Tel. : +33 (0)1 44
71 00 15 oncodesign@newcap.eu