(Boursier.com) — Biosenic an innovative company with the goal of addressing significant unmet medical needs in the area of innate immunity, inflammation and organ/function repair, today announces a further update to its financial arrangements with its main historical creditors, Patronale, Monument and the European Investment Bank.
BioSenic aims to renegotiate its main financial debts, inherited from Bone Therapeutics. This is necessary for BioSenic to be able to successfully launch a new fundraising, in the form of a private placement in Q3-4 2023.
“For the renegotiation of the debt, our mediator, Yves Brulard, obtained a status quo agreement for a period of 3 to 4 months, from the main historical creditors” comments the group. “BioSenic will thus be able to maintain a good pace of development of its flagship projects, while negotiating a long-term solution to access the levels of financing necessary for all of its preclinical and clinical programs”.
Francois Rieger, CEO of BioSenic and Chairman of the Board, said, “BioSenic inherited significant debt from Bone Therapeutics prior to the reverse merger with Medsenic. During the first half of 2023, BioSenic invested significant resources in company for the balance and development of its programs along the lines defined in the terms of last year’s merger. A necessary process of restructuring of the main debts is now underway and we are ensuring that all our financial partners can come together and contribute to the best conditions for the company’s future success for its current flagship programs”.
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