CAMBRIDGE, Mass. & PARIS--(BUSINESS WIRE)--Regulatory News:
Voluntis (Paris:VTX) (Euronext Paris, Ticker: VTX - ISIN: FR0004183960) a leader in digital therapeutics, today announced the launch of a new R&D program to advance the capabilities of its Theraxium platform. It also announced a new loan obtained from Bpifrance to support its innovation program.
New Theraxium R&D program with a specific focus on oncology
The new R&D program launched by Voluntis is dedicated to expanding the capabilities of the Theraxium platform, with a specific focus on:
- Extending the capabilities of its algorithm engine and its existing medical algorithms, by leveraging AI with a first application in oncology. This will notably translate into improved supportive care recommendations for the management of cancer patients.
- Adding new IoT functions to enable the connectivity of the platform with a larger set of sensors and drug delivery devices used by patients
- Strengthening the capabilities of the platform in data science to derive new actionable insights from real-world data collected by digital therapeutics.
The new features in Theraxium developed by Voluntis will be gradually made available to life science partners and end users starting in 2021, initially as part of pilot deployments in collaboration with select oncology centers.
New loan obtained from Bpifrance
To support this program, Voluntis has obtained a new R&D Innovation loan from Bpifrance Financement.
This €1 million loan has a term of six years and two months. This term includes a deferred principal repayment period of 14 months followed by a straight-line repayment period over 5 years. The first installment will be payable on March 31, 2022 and the last installment payable on December 31, 2026.
This loan, which is non-dilutive to shareholders, bears a fixed annual interest rate of 2.25%.
As a reminder, Voluntis obtained a € 2 million government-guaranteed loan from BNP Paribas in September 2020.
“Our ambitious new R&D program will enable Voluntis to further its technological advance in the fast-evolving field of digital therapeutics,” said Etienne Vial, Chief Technology Officer. “Through our continuous innovation, we are confident that we are reinforcing Theraxium’s position as platform of choice for life science companies developing digitally-augmented therapies.”
“We are glad to have obtained a new loan from Bpifrance to support our innovation roadmap,” added Pierre Leurent, Chief Executive Officer. “This additional non-dilutive cash injection further reinforces our financial situation and contributes to advancing our growth initiatives.”
Voluntis creates digital therapeutics that empower people with chronic conditions to self-manage their treatment every day, thus improving real-world outcomes. Voluntis’ solutions, combining mobile and web apps, use clinical algorithms to deliver personalized recommendations to patients and their care teams. For example, these recommendations are used to adjust treatment dosage, manage side effects or monitor symptoms. Leveraging its Theraxium technology platform, Voluntis has designed and operates multiple digital therapeutics, especially in oncology and diabetes. Voluntis has long-standing partnerships with leading life science companies. Based in Cambridge, MA, and Paris, France, Voluntis is a founding member of the Digital Therapeutics Alliance. For more information, please visit: www.voluntis.com
Mnemo : VTX - ISIN : FR0004183960
This press release contains certain forward-looking statements concerning Voluntis group and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Voluntis considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the 2019 annual financial report and the 2020 half-year financial report published by Voluntis respectively on April 30, 2020 and September 29, 2020 (a copy of which is available on www.voluntis.com) and to the development of economic conditions, financial markets and the markets in which Voluntis operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Voluntis or not currently considered material by Voluntis. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Voluntis to be materially different from such forward-looking statements. Voluntis expressly declines any obligation to update such forward-looking statements.
1 Internet of Things