Biophytis announces that the Company entered into a new loan structure with Kreos Capital.
Stanislas Veillet, CEO of BIOPHYTIS, stated: “This transaction allows us to fund the final steps of our COVA phase 2-3 study in COVID-19, mostly for registration under Emergency Use Authorization with the FDA and Conditional Use with the EMA, and the manufacturing of registration batches of the Sarconeos (BIO101). This new financing structure with Kreos Capital shows the good relationship both Parties are having since 2018”.
The €10 million total loan was concluded on November 19, 2021 and includes four tranches of respectively €2.5 million, €3.0 million, €2.5 million and €2.0 million. The two first tranches were drawn upon signing of the contract on November 19, 2021, the third tranche can be drawn up to December 31, 2021, and the last tranche can be drawn up to March 31, 2022. Besides, Kreos Capital will receive Biophytis’ share warrants (“bon de souscription d’action” or “BSA”) for a total of approximately €1M.
Full Article be found at https://www.biophytis.com/en/november-22-2021/