(CercleFinance.com) – Néovacs announced yesterday evening that it has obtained certain advances within the framework of the financing and strategic support agreement concluded with the biopharmaceutical company Pharnext.
The two companies have therefore agreed to set up a management trust to manage the Pharnext securities issued, as well as the rights and obligations of Neovacs, under the financing agreement signed in September.
As a reminder, Néovacs has granted Pharnext financing of 21.1 million euros which could eventually enable it to become a reference shareholder of Pharnext in the event of the success of phase III of the drug candidate in Charcot.
As such, Néovacs subscribed to the second tranche of simple bonds issued by Pharnext for a net amount of 2.5 million euros.
According to the company’s half-year results, Neovacs had cash of 33 million euros as of June 30, compared to 33.1 million at the end of 2021.
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