Voluntis Obtains €3 Million of Additional Non-Dilutive Loans and Optimizes Its Existing Financing

• New Loans Guaranteed by the French State (PGE) in an amount of €3 million, from both BNP Paribas and Crédit du Nord (new banking partner of the Company)
• Total financing amount raised in 2020 equal to €11.9 million, including €6 million in the form of non-dilutive financing
• No intention of using the flexible bond financing line ("OCEANE-BSA"), which has never been used to date and will expire on September 23, 2021.

CAMBRIDGE, Mass. & PARIS--(BUSINESS WIRE)--Regulatory News:

Voluntis (Paris:VTX) (Euronext Paris, Ticker: VTX - ISIN: FR0004183960 – the « Company »), a leader in the field of digital therapeutics, announces that it has been granted new state-guaranteed loans (Prêt Garanti par l’Etat, or PGE in France) for a total amount of €3 million from BNP Paribas and Crédit du Nord and the optimization of the Company's financial structure.

These PGE have an initial term of one year and are fully redeemable at maturity¹. Repayment of the amounts due may be deferred again, at the Company's option, until December 2026. The French State guarantees 90% of the amounts due.

These loans, which are non-dilutive to shareholders, bear a fixed annual interest rate of 0.25% for the first year².

The Company has therefore completed a €2 million subscription from its historical partner, BNP Paribas, and expanded its pool of banking partners by subscribing to €1 million from Crédit du Nord, a subsidiary of the Société Générale group.

For the record, the Company was granted a first PGE in the amount of €2 million from BNP Paribas in September 2020³.

With this new financing, Voluntis brings to €11.9 million the amount of funds raised in 2020, including €6 million in non-dilutive financing (PGE and a R&D Innovation loan from Bpifrance Financement) and €5.9 million as part of an equity raise carried out notably with Debiopharm Innovation Fund, the corporate fund of the Swiss company Debiopharm, and Indigo, the personal holding company of Eric Carreel, President and co-founder of Withings.

With these additional resources, Voluntis is able to cover its financial needs beyond the next 12 months. Consequently, the Company does not intend to use the flexible bond financing facility ("OCEANE-BSA") obtained on March 23, 2020, not used to date and for which the drawing possibility, at the exclusive initiative of Voluntis, will expire on September 23, 2021.

Pierre Leurent, Chief Executive Officer, said: "These new financing lines, which are non-dilutive and which we can repay without penalty if they are not used, allow us to secure additional resources beyond the needs identified in our strategic roadmap. We thank BNP Paribas for its renewed confidence and are pleased to welcome Crédit du Nord among our banking partners.”

About Voluntis

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

Disclaimer

This press release contains forward-looking statements about Voluntis Group and its business, including its prospects and product development. Voluntis believes that such forward-looking statements are based on reasonable assumptions. However, forward-looking statements are not guarantees of future performance, since they relate to future events and depend on circumstances that may or may not occur in the future, and on various risks and uncertainties, including those described in the 2019 annual financial report and the 2020 half-year financial report published by Voluntis on April 30, 2020 and September 29, 2020, respectively, a copy of which is available on the Group's website (www.voluntis.com), and changes in 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 that are unknown to Voluntis or that Voluntis does not consider material at this date. The occurrence of some or all of these risks could cause the actual results, financial conditions, performance or achievements of Voluntis to differ materially from those expressed in such forward-looking statements. Voluntis disclaims any obligation to update these forward-looking statements.

_______________________
¹ Except in the usual cases of early repayment (non-payment, collective proceedings, non-compliance with one of the contractual obligations, etc.).
² This interest rate is likely to change in subsequent years, should the Company decide to defer repayment of the principal, but may not, in any event, exceed a percentage corresponding to the bank's refinancing cost at the date of the deferral plus the government guarantee commission.
³ See the company's press release of September 14, 2020.