ADVICENNE
ADVICENNE
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Ticker: ALDVI
ISIN: FR0013296746

Advicenne Strengthens Its Financial Structure Through the Implementation of its €20 Million Financing Agreement with the European Investment Bank, with the Drawdown of a First Tranche of €7.5 Million

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Regulatory News:

Advicenne (Paris:ADVIC) (BSE:ADVIC) today announced the reception of the first tranche of this loan, in the amount of €7.5 million. This drawdown implements the loan agreement with the European Investment Bank, signed in July 2019.

This totally non-dilutive financing is structured in three tranches of €7.5 million, €5 million and €7.5 million. Its aim is to finance Advicenne’s growth and support the company’s research and development strategy as well as commercialization.

The drawdown of the first tranche of €7.5 million brings the company’s cash in bank to €17.8 million as of June 30, 2020, compared with €16.6 million on December 31, 2019. Advicenne thus has extended financial visibility with which to pursue its clinical research activities with confidence and to prepare market access for its lead drug candidate, ADV7103, in the treatment of distal renal tubular acidosis (dRTA). The registration dossier for ADV7103 is currently under review with the European Medicines Agency (EMA).

“We are pleased to receive the first tranche in our financing agreement with the European Investment Bank,” states Dr. André Ulmann, Advicenne Chief Executive Officer, “This support gives us increased visibility to pursue our development.”

About Advicenne

Advicenne (Euronext: ADVIC) is a pharmaceutical company specializing in the development and commercialization of innovative treatments in the field of nephrology. Our lead drug candidate is currently in late-stage clinical trials for two kidney diseases: the renal tubular acidoses and cystinuria. ADV7103 has been granted orphan drug designation by the European Commission in the treatment of both conditions.

Advicenne’s ambition is to develop new medications based on an innovative formulation in order to respond to unmet medical needs, particularly in the field of nephrology.

Headquartered in Paris, Advicenne has been listed on the Euronext Paris stock exchange since 2017 and was cross-listed on the Euronext Brussels stock exchange in 2019.

Forward-Looking Statements

This press release contains certain forward-looking statements relating to the business of Advicenne, which shall not be considered per se as historical facts. Such statements include projections and estimates, and the hypotheses on which these are based, as well as observations relating to operations, ongoing projects, objectives, the development of products and their future performance, and expectations regarding financial results.

In some cases, forward-looking statements can be identified by words such as "could," "should," "may," "expects," "anticipates," "believes," "intends," "estimates," "aims," "targets" or similar words. Although the management of Advicenne believes that these forward-looking statements are reasonably made, investors should be aware that they are subject to a number of known and unknown risks and uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. In particular, the expectations of Advicenne could be affected by, among other things, uncertainties involved in the placing on the market and commercialization of Advicenne products or any other risks and uncertainties developed or identified in any public documents filed by Advicenne with the French Financial Markets Authority (Autorité des marchés financiers (AMF)), including those listed in Chapter 4, “Risk Factors,” of its reference document, filed with the latter on December 19, 2019, under number D.19-1036. Notwithstanding the compliance with article 223-1 of the General Regulation of the AMF (the information disclosed must be “accurate, precise and fairly presented”), Advicenne disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any information relating to the use of drug candidates contained in the present press release is based on the results of ongoing studies at the time of the release’s publication. A drug candidate is a product that has not yet received marketing authorization from a health agency.


1 Unaudited financial data.

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