(CercleFinance.com) – Neovacs announces that it has entered into negotiations with Pharnext in order to support this biopharmaceutical company at an advanced clinical stage developing new therapies for neurodegenerative diseases without a satisfactory therapeutic solution.
The envisaged funding would support Pharnext’s operations and cash flow needs, including a phase III study in Charcot-Marie-Tooth disease type 1A, with first results expected in the last quarter of 2023.
Néovacs has proposed an investment in the form of loans that can be converted in whole or in part into Pharnext shares for a maximum amount of 20 million euros, together with BSAs that can ultimately give access to approximately one-third of Pharnext’s capital.
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