Voluntis Obtains €3 Million of Additional Non-Dilutive Loans and Optimizes Its Existing Financing
18 Dicembre 2020 - 8:00AM
Business Wire
- New Loans Guaranteed by the French State (PGE) in an amount
of €3 million, from both BNP Paribas and Crédit du Nord (new
banking partner of the Company)
- Total financing amount raised in 2020 equal to €11.9
million, including €6 million in the form of non-dilutive
financing
- No intention of using the flexible bond financing line
("OCEANE-BSA"), which has never been used to date and will expire
on September 23, 2021.
Regulatory News:
Voluntis (Paris:VTX) (Euronext Paris, Ticker: VTX - ISIN:
FR0004183960 – the « Company »), a leader in the field of digital
therapeutics, announces that it has been granted new
state-guaranteed loans (Prêt Garanti par l’Etat, or PGE in France)
for a total amount of €3 million from BNP Paribas and Crédit du
Nord and the optimization of the Company's financial structure.
These PGE have an initial term of one year and are fully
redeemable at maturity1. Repayment of the amounts due may be
deferred again, at the Company's option, until December 2026. The
French State guarantees 90% of the amounts due.
These loans, which are non-dilutive to shareholders, bear a
fixed annual interest rate of 0.25% for the first year2.
The Company has therefore completed a €2 million subscription
from its historical partner, BNP Paribas, and expanded its pool of
banking partners by subscribing to €1 million from Crédit du Nord,
a subsidiary of the Société Générale group.
For the record, the Company was granted a first PGE in the
amount of €2 million from BNP Paribas in September 20203.
With this new financing, Voluntis brings to €11.9 million the
amount of funds raised in 2020, including €6 million in
non-dilutive financing (PGE and a R&D Innovation loan from
Bpifrance Financement) and €5.9 million as part of an equity raise
carried out notably with Debiopharm Innovation Fund, the corporate
fund of the Swiss company Debiopharm, and Indigo, the personal
holding company of Eric Carreel, President and co-founder of
Withings.
With these additional resources, Voluntis is able to cover its
financial needs beyond the next 12 months. Consequently, the
Company does not intend to use the flexible bond financing facility
("OCEANE-BSA") obtained on March 23, 2020, not used to date and for
which the drawing possibility, at the exclusive initiative of
Voluntis, will expire on September 23, 2021.
Pierre Leurent, Chief Executive Officer, said: "These new
financing lines, which are non-dilutive and which we can repay
without penalty if they are not used, allow us to secure additional
resources beyond the needs identified in our strategic roadmap. We
thank BNP Paribas for its renewed confidence and are pleased to
welcome Crédit du Nord among our banking partners.”
About Voluntis
Voluntis creates digital therapeutics that empower people with
chronic conditions to self-manage their treatment every day, thus
improving real-world outcomes. Voluntis’ solutions, combining
mobile and web apps, use clinical algorithms to deliver
personalized recommendations to patients and their care teams. For
example, these recommendations are used to adjust treatment dosage,
manage side effects or monitor symptoms. Leveraging its Theraxium®
technology platform, Voluntis has designed and operates multiple
digital therapeutics, especially in oncology and diabetes. Voluntis
has long-standing partnerships with leading life science companies.
Based in Cambridge, MA, and Paris, France, Voluntis is a founding
member of the Digital Therapeutics Alliance. For more information,
please visit: www.voluntis.com
Mnemo : VTX - ISIN : FR0004183960
Disclaimer
This press release contains forward-looking statements about
Voluntis Group and its business, including its prospects and
product development. Voluntis believes that such forward-looking
statements are based on reasonable assumptions. However,
forward-looking statements are not guarantees of future
performance, since they relate to future events and depend on
circumstances that may or may not occur in the future, and on
various risks and uncertainties, including those described in the
2019 annual financial report and the 2020 half-year financial
report published by Voluntis on April 30, 2020 and September 29,
2020, respectively, a copy of which is available on the Group's
website (www.voluntis.com), and changes in economic conditions,
financial markets and the markets in which Voluntis operates. The
forward-looking statements contained in this press release are also
subject to risks that are unknown to Voluntis or that Voluntis does
not consider material at this date. The occurrence of some or all
of these risks could cause the actual results, financial
conditions, performance or achievements of Voluntis to differ
materially from those expressed in such forward-looking statements.
Voluntis disclaims any obligation to update these forward-looking
statements.
_______________________ 1 Except in the usual cases of early
repayment (non-payment, collective proceedings, non-compliance with
one of the contractual obligations, etc.). 2 This interest rate is
likely to change in subsequent years, should the Company decide to
defer repayment of the principal, but may not, in any event, exceed
a percentage corresponding to the bank's refinancing cost at the
date of the deferral plus the government guarantee commission. 3
See the company's press release of September 14, 2020.
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ACTUS Media relations Vivien Ferran
vferran@actus.fr +33 (0)1 53 67 36 34
ACTUS Investor relations Jérôme
Fabreguettes-Leib voluntis@actus.fr +33 (0)1 53 67 36 78
Voluntis Chief Financial Officer Guillaume
Floch investisseurs@voluntis.com +33 (0)1 41 38 39 20