PARIS--(BUSINESS WIRE)--Regulatory News:
Advicenne (Paris:ADVIC) (BSE:ADVIC) (Euronext: ADVIC) today announces the signature of a €4.3 million credit agreement, guaranteed by the French State, with banking partners BNP Paribas and BPI France.
This loan, in the form of a State-guaranteed loan in the context of the COVID-19 pandemic, contributes to strengthening the Company's cash position.
The loan is 90% guaranteed by the French State with an initial maturity of 12 months and an extension option of up to 5 years, which may be exercised by Advicenne until September 2025.
“I am thrilled with this funding, which allows us to increase Advicenne’s financial visibility. We would like to thank our partners BNP Paribas and BPI France for their support in the development and future marketing of our innovative nephrology treatments.” states Dr. André ULMANN, Advicenne Chief Executive Officer.
Advicenne (Euronext: ADVIC) is a pharmaceutical company specializing in the development and commercialization of innovative treatments in the field of nephrology. Our lead drug candidate is currently in late-stage clinical trials for two kidney diseases: the renal tubular acidoses and cystinuria. ADV7103 has been granted orphan drug designation by the European Commission in the treatment of both conditions.
A European marketing authorization application for ADV7103 in the treatment of dRTA is currently under review with the European Medicines Agency.
Advicenne’s ambition is to develop new medications based on an innovative formulation in order to respond to unmet medical needs, particularly in the field of nephrology.
Headquartered in Paris, Advicenne has been listed on the Euronext Paris stock exchange since 2017 and was cross-listed on the Euronext Brussels stock exchange in 2019.
For additional information: https://advicenne.com/