Capital/Financing Update • Oct 5, 2023
Capital/Financing Update
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PRESS RELEASE
Dijon (France), October 5, 2023, at 6:00pm CEST– Oncodesign Precision Medicine (OPM) (ISIN : FR001400CM63 ; Mnemonic : ALOPM), a biopharmaceutical company specializing in precision medicine for the treatment of resistant and metastatic cancer, announces the successful signing of a financing agreement of €6 M granted by three regional banks: Caisse d'Épargne Bourgogne Franche Comté, Crédit Agricole Champagne Bourgogne and Société Générale. This financing is guaranteed by Bpifrance and P.C.G.
Oncodesign Precision Medicine, listed on Euronext Growth since November 2022, and having completed an €8 M capital increase in December 2022, of which €5 M were provided by the three co-founders, has signed a financing agreement with three regional banks. It highlights the trust, developed over time, of the OPM regional ecosystem and the key role played by geographical roots in the development of technology companies.
Over the past year, many milestones have been achieved:
This €6 M loan is equally provided by the three regional banks: Caisse d'Épargne Bourgogne Franche Comté, Crédit Agricole de Champagne Bourgogne, and Société Générale, and is guaranteed by Bpifrance and P.C.G.
This financing increases OPM's cash position to €13.35 M on 03/10/2023. It enables OPM to progress as planned in the clinical development of OPM-101, specifically by continuing the MAD part of the ongoing Phase I trial in healthy volunteers and preparing Phase IIa, while continuing to develop the companies' technologies and product portfolio.
It enables the management and the team to focus on the company's mission, which is the development of treatments for resistant and metastatic cancers, and to continue creating value within the company.
Philippe GENNE, President and Chief Executive Officer of Oncodesign Precision Medicine, said: "In a difficult general economic context for biotechs, this agreement is a real expression of faith from our loyal regional banking partners, with whom we've been working for more than 20 years. After the success of Oncodesign SA, they are following us in OPM's adventure through this innovative agreement for this sector, which goes beyond their traditional fields of activity. In particular, this financing will enable us to confidently continue the development of OPM-101 towards Phase II, without any potential time-loss due to the prevailing stock market gloom. We appreciate this expression of confidence from our regional ecosystem, which demonstrates its strong conviction and commitment to OPM's value-creation project."
Karine Lignel, COO of Oncodesign Precision Medicine, added: "Over time, we have developed a relationship of trust with our shareholders, who supported us during OPM's last capital increase, and with regional banking institutions, which have recognized the value of our projects, even though this is not a traditional financing for them. This proves, if proof were needed, that trust is developed over time and is strengthened by successful projects such as last year's sale of Oncodesign Services and the creation of OPM. Our cash visibility has therefore improved, and we are working to complete this bank financing through government funding."
David Sarret, Head of Healthcare Experts Division of Caisse d'Epargne Bourgogne Franche-Comté, concluded: "As a funder of the healthcare sector and innovative companies, the Caisse d'Epargne Bourgogne Franche-Comté is proud to contribute to the financing of research & development activities of Dijon-based biotech Oncodesign Precision Medicine by playing the role of arranger and agent during the transaction. This personalized financing, structured in close collaboration with Oncodesign Precision Medicine's management team, is entirely in phase with our commitment to support healthcare actors in their value-creation projects over the long term."
Oncodesign Precision Medicine (OPM), the result of the transfer of Oncodesign's Biotech and AI activities, is a biopharmaceutical company specializing in precision medicine to treat resistant and metastatic cancers.
OPM's innovative technologies are (i) OncoSNIPER for the selection of therapeutic targets using artificial intelligence; (ii) Nanocyclix® for the design and selection of macrocyclic small molecule kinase inhibitors and (iii) Promethe for the design and selection of radiolabeled biological molecules for systemic radiotherapy.
From these technologies, OPM has built a portfolio of therapeutic products. A first drug candidate based on the Nanocyclix® technology entered the clinical phase in 2022, in partnership with SERVIER (which exercised its option for an exclusive worldwide license on the program) to treat Parkinson's disease. OPM-101 is OPM's second candidate to enter the clinic, in the treatment of chronic immuno-inflammatory diseases. Finally, OPM is also collaborating with Servier to discover new therapeutic targets for the treatment of pancreatic adenocarcinoma based on its OncoSNIPER technology. In addition, OPM is seeking a partner for Florepizol, a radiotracer specific for the mutated EGFR target, which has successfully completed Phase I. Finally, OPM has a significant portfolio of early-stage projects with Nanocyclix® and Promethe in oncology. With this portfolio of molecules and diversified therapeutic targets, OPM's mission is to discover effective therapies to treat resistant and advanced cancers. Based in Dijon, at the heart of the university and hospital cluster, OPM has 25 employees.
More info at: oncodesign.com
Investor Relations Mathilde Bohin / Alban Dufumier Tel: +33 (0)1 44 71 94 95 [email protected]
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