DEINOVE immediately strengthens its cash position to finance the ongoing clinical trial testing DNV3837 for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile
DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company that pioneers the application of biodiversity from the natural environment to tackle the global challenge of antimicrobial resistance and the need for next-generation active ingredients for Health, announces today the issuance of a 4th tranche of notes convertible into new shares (the "OCA") as part of the agreement entered into on July 9, 2019 with the European Select Growth Opportunities Fund (the "Investor") relating to a financing through the issuance of OCA for a maximum nominal amount of €15 million, with a 6.5% face discount upon conversion into shares, not bearing interest and with no stock subscription warrants attached, over a maximum period of 24 months.
This 4th tranche is composed of 150 OCA with a nominal value of EUR 10,000 each, representing a total amount of EUR 1,500,000, fully subscribed by the Investor today, in accordance with the contract signed on July 9, 2019.
The characteristics of the OCA and their theoretical dilutive impact are detailed in the press release dated July 9, 2019. DEINOVE recalls that all of the 220 OCA issued under the first tranche and the 100 OCA issued under the second tranche have been converted to date. Concerning the 150 OCA issued under the third tranche, 3 have not yet been converted.
The objective of this issue for DEINOVE is to continue the Phase II clinical trial in the United States testing DNV3837, its most advanced antibiotic candidate for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile.
It is further recalled that DEINOVE and the Investor entered on April 2, 2020 into an amendment to the contract concluded on July 9, 2019.
 Press release dated July 9, 2019 available on the Company's website (http://www.deinove.com/en/news/all-press-releases/issuance-notes-convertible-new-shares-maximum-amount-eu15m-issuance-first-eu22-million-tranche)
 Press release dated April 3, 2020 available on the Company's website (http://www.deinove.com/en/news/all-press-releases/issuance-2nd-tranch-eu1-million-notes-convertible-new-shares)