VALBIOTIS
28.7.2020 07:37:05 CEST | Business Wire | Press release
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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