Yahoo Finance AB Science secures 6M€ in non-dilutive financing guaranteed by the French Government
PRESS RELEASE
AB SCIENCE SECURES EUR 6 MILLION IN NON-DILUTIVE FINANCING GUARANTEED BY THE FRENCH GOVERNMENT
Paris, 14 April 2021, 6pm CET
AB Science SA (NYSE Euronext - FR0010557264 - AB) today announces that it has received financing approval from Société Générale, Bpifrance and Banque Populaire for a total of EUR 6 million in the form of state-guaranteed loans (Prêts Garantis par l’Etat, or PGE in France) in the context of the COVID-19 pandemic.
« This non-dilutive loan follows the previous capital increases completed last year and strengthens AB Science’s financial position. We would like to thank the French government and our banking partners for this funding », stated Alain Moussy, cofounder and CEO of AB Science.
Each bank provided a loan of EUR 2 million. The French government guarantees 90% of the amount due in the case of default. The loan has an initial term of 12 months, with a five-year extension option, exercisable by AB Science.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a class of targeted proteins whose action are key in signaling pathways within cells. Our programs target only diseases with high unmet medical needs, often lethal with short term survival or rare or refractory to previous line of treatment.
AB Science has developed a proprietary portfolio of molecules and the Company’s lead compound, masitinib, has already been registered for veterinary medicine and is developed in human medicine in oncology, neurological diseases, and inflammatory diseases. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB).
Further information is available on AB Science’s website:
www.ab-science.com.
Forward-looking Statements - AB Science
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates as well as the assumptions on which they are based, statements based on projects, objectives, intentions and expectations regarding financial results, events, operations, future services, product development and their potential or future performance.
These forward-looking statements can often be identified by the words "expect", "anticipate", "believe", "intend", "estimate" or "plan" as well as other similar terms. While AB Science believes these forward-looking statements are reasonable, investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict and generally beyond the control of AB Science and which may imply that results and actual events significantly differ from those expressed, induced or anticipated in the forward-looking information and statements. These risks and uncertainties include the uncertainties related to product development of the Company which may not be successful or to the marketing authorizations granted by competent authorities or, more generally, any factors that may affect marketing capacity of the products developed by AB Science, as well as those developed or identified in the public documents filed by AB Science with the Autorité des Marchés Financiers (AMF), including those listed in the Chapter 4 "Risk Factors" of AB Science reference document filed with the AMF on November 22, 2016, under the number R. 16-078. AB Science disclaims any obligation or undertaking to update the forward-looking information and statements, subject to the applicable regulations, in particular articles 223-1 et seq. of the AMF General Regulations.
For additional information, please contact:
AB Science
Financial Communication & Media Relations
investors@ab-science.com
Media Relations – USA
RooneyPartners
Jeffrey Freedman
jfreedman@rooneyco.com
+1 646 432 0191
Media Relations – France
NewCap
Arthur Rouillé
arouille@newcap.fr
+33 (0)1 44 71 00 15
Attachment
