VALBIOTIS Announces a Cash Position of €10.9M at 30 June 2020
28 Luglio 2020 - 7:35AM
Business Wire
Nearly €8M in Additional Resources Already
Secured:
- CHF 3M from the first milestone payment from Nestlé Health
Science, due in September
- €2M raised from AMIRAL GESTION, as part of the capital increase
carried out in the form of a private placement with a 5.4%
premium1
- €3M of a PGE (Loan Guaranteed by the French State),
non-dilutive financing of €3M from Bpifrance, BNP Paribas and
Société Générale
Regulatory News:
VALBIOTIS (Paris:ALVAL) (FR0013254851 - ALVAL, PEA/SME
eligible), a Research & Development company committed to
scientific innovation for preventing and combating metabolic
diseases, today announces the strengthening of its cash position
with nearly €8M of additional resources already secured.
At 30 June 2020, VALBIOTIS had a cash position of €10,913 K
(unaudited data), compared to €8,033 K at 31 December 2019. This
cash position does not include additional financing obtained since
that date:
- The receipt of CHF 3M during September for
Nestlé Health Science's first milestone payment following the first
patient visit in the REVERSE-IT clinical study;
- The proceeds of the capital increase
carried out with a new shareholder, AMIRAL GESTION, for a gross
amount of €2M, on the basis of a price per share of €4.50,
representing a 5.4% premium over the closing share price on 16 July
2020;
- The payment of a PGE (Loan Guaranteed by
the French State) for an amount of €3M.
With a strengthened and sustainable financial structure, the
Company, while continuing the final stages of the development of
TOTUM-63 financed by Nestlé Health Science, who will also be in
charge of its commercialization, can accelerate development of its
research programs on the reduction of LDL blood cholesterol
(TOTUM-070), the reduction of blood pressure (TOTUM-854) and the
reduction of hepatic steatosis (TOTUM-448).
Jocelyn PINEAU, co-founder and CFO of VALBIOTIS, comments: "The
first half of 2020 saw a number of milestones achieved. We signed a
partnership with Nestlé Health Science to fund the completion of
the development of TOTUM-63, our first product, through to
commercialization and health claim submissions to the US and
European authorities. New revenues resulting from this agreement
combined with AMIRAL GESTION's entry into the capital and obtaining
a PGE considerably strengthens our cash position and secures our
financial situation. We would like to thank the public authorities
and our banking partners, as well as all our institutional and
individual shareholders. We are now able to focus all our efforts
on the further development of our promising pipeline with a view to
concluding new licensing agreements, in line with our strategic
plan.”
ABOUT VALBIOTIS VALBIOTIS is a Research
& Development company committed to scientific innovation for
preventing and combating metabolic diseases in response to unmet
medical needs. VALBIOTIS has adopted an innovative approach, aiming
to revolutionize healthcare by developing a new class of
nutritional health solutions designed to reduce the risk of major
metabolic diseases, based on a multi-target approach and made
possible by the use of plant-based ingredients. Its products are
intended to be licensed to players in the health world. VALBIOTIS
was founded in La Rochelle in early 2014 and has formed numerous
partnerships with top academic centers. The Company has established
three sites in France – Périgny, La Rochelle (17) and Riom (63).
VALBIOTIS is a member of the "BPI Excellence" network and received
the "Innovative Company" status accorded by BPI France. Valbiotis
has also been awarded "Young Innovative Company" status and has
received major financial support from the European Union for its
research programs by obtaining support from the European Regional
Development Fund (ERDF). VALBIOTIS is a PEA-SME eligible company.
Find out more about VALBIOTIS: www.valbiotis.com
Name: Valbiotis ISIN code: FR0013254851
Mnemonic code: ALVAL
DISCLAIMER This press release contains forward-looking
statements about VALBIOTIS' objectives, based on rational
hypotheses and the information available to the company at the
present time. However, in no way does this constitute a guarantee
of future performance, and these projections can be reconsidered
based on changes in economic conditions and financial markets, as
well as a certain number of risks and doubts, including those
described in the VALBIOTIS core document, filed with the French
Financial Markets Regulator (AMF) on 31 July 2019 (application
number R19-030) as well in its supplement approved by the AMF on
Octobre 9, 2019. These documents being available on the Company’s
website (www.valbiotis.com). This press release, as well as the
information contained herein, does not constitute an offer to sell
or subscribe to, or a solicitation to purchase or subscribe to,
VALBIOTIS' shares or securities in any country.
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1 Based on a share price of €4.50, which represents a 5.4%
premium over the closing share price on 16 July 2020.
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version on businesswire.com: https://www.businesswire.com/news/home/20200727005585/en/
CORPORATE COMMUNICATION / VALBIOTIS Carole ROCHER / Marc
DELAUNAY +33 5 46 28 62 58 media@valbiotis.com
FINANCIAL COMMUNICATION / ACTIFIN Stéphane RUIZ +33 1 56 88 11
14 sruiz@actifin.fr
MEDIA RELATIONS / MADIS PHILEO Guillaume DE CHAMISSO +33 6 85 91
32 56 guillaume.dechamisso@madisphileo.com
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