Pharnext: an agreement governs financing by Neovacs – 01/19/2023 at 12:22


(CercleFinance.com) – Pharnext and Neovacs announced on Thursday the signing of an agreement intended to govern their financing and strategic support agreement presented at the end of 2022.

This agreement is intended to provide a framework for strengthening the financial support of Néovacs, which must cover its cash requirements in the event that Pharnext is unable to use the financing contract in the form of OCABSA by Global Tech Opportunities 13, as this was the case last month.

In this context, Néovacs has undertaken to increase its financial support to an additional two million euros per month by the end of 2023.

As part of this agreement, Neovacs has undertaken to make available to Pharnext, until December 31, 2023, the maximum sum of 24 million euros.

The company thus covers Pharnext’s potential financing needs until the planned publication of the first results of the pivotal phase III clinical study evaluating the drug candidate PXT3003 in Charcot-Marie-Tooth disease type 1 (CMT1A).



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