In cessation of payment, Deinove requests receivership

Deepening losses and a deteriorating balance sheet, such was the photograph of Deinove at the end of the first half. Biotech, which has made antibiotic resistance its hobbyhorse, also made no secret of being in a tense situation, its future depending on the implementation of financing solutions as quickly as possible. On Friday, October 28, the company run by Alexis Rideau announced that it had declared insolvency with the Montpellier Commercial Court and requested the opening of receivership proceedings. ” The employee representative bodies have been informed in advance “, emphasizes Deinove, adding that” the objective of this procedure is to assess all solutions allowing the best conditions to perpetuate the activity, maintain employment and settle the liabilities, as well as to initiate a process of seeking investors within the framework of a recovery plan by way of continuation or a disposal plan. »

The company is therefore now looking for investors. How much does she need? At the end of June, its net cash was limited to 1.1 million euros, an amount which did not include the drawdown of two tranches of bonds convertible into shares (OCA) 2021 for a total amount of 0.75 million euros. Even taking them into consideration, with a new tranche of 0.25 million, the account is not there due to Deinove’s charge structure. Despite efforts to reduce costs, operating expenses represented 4 million euros in the first half alone, of which 84% was allocated to R&D. On the stock market, the title is suspended from trading on a last price of 6 cents.