Sensorion Announces Amended Terms for the Warrants Issued in Connection With the Private Placement Completed in August 2023

• The maturity of the warrant subscribed by Redmile in August 2023 will be postponed until December 31, 2033, with €1,6m additional prefunding to Sensorion
• Redmile’s shareholding of 24,8% in the Company remains unchanged

MONTPELLIER, France--(BUSINESS WIRE)--Regulatory News:

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Sensorion (the “Company”) (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent within the field of hearing loss disorders, today announces an amendment of the terms of the 17,857,143 pre-funded warrants subscribed by Redmile Group in the framework of the €35 million private placement decided on August 3, 2023 (as announced by the Company on August 3, 2024), (bons de souscription d’actions préfinancés) (the "Warrants"). The Company and Redmile Group have agreed:

• that Redmile Group will pay to the Company on or before January 31, 2024 an additional prefunded amount equal to €1,607,142.87 for all Warrants, i.e. €0.09 per Warrant, in addition to the prefunded amount of €0.18 per Warrant paid in August 2023,
• to postpone the maturity of the warrants until December 31, 2033 so that the Warrants may be exercised at any moment against the payment of €0.01 per Warrant Share until December 31, 2033,
• accordingly, to postpone the exercise period for the put option benefiting to Redmile Group in case the Warrants would not be exercised prior to December 31, 2033, such period being from January 1st, 2034 to February 15, 2034, and
• to have the Warrants transferable only (i) to any affiliate of the holder, (ii) in the event of a transfer of a controlling interest of the Company, representing at least 50% of its share capital or voting rights of the Company by one or several shareholders at the same time, and (iii) in the event of a public takeover bid (Offre Publique d’Achat ou d’Echange) over the Company’s Shares, in which case the third party eligible to such transfer may only be the bidder of such public takeover bid.

There are no resulting changes to Redmile Group’s shareholding of 24.8% in the Company (on a non diluted basis).

On 19 January 2024, Sensorion announced having received the approval to initiate its lead gene therapy candidate SENS-501 (OTOF-GT) into a Phase 1/2 Clinical Trial in some European Countries.

About Sensorion
Sensorion is a pioneering clinical-stage biotech company, which specializes in the development of novel therapies to restore, treat and prevent hearing loss disorders, a significant global unmet medical need.
Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and etiology of inner ear related diseases, enabling it to select the best targets and mechanisms of action for drug candidates. It has two gene therapy programs aimed at correcting hereditary monogenic forms of deafness, developed in the framework of its broad strategic collaboration focused on the genetics of hearing with the Institut Pasteur. SENS-501 (OTOF-GT) currently being developed in a Phase 1/2 clinical trial, targets deafness caused by mutations of the gene encoding for otoferlin and GJB2-GT targets hearing loss related to mutations in GJB2 gene to potentially address important hearing loss segments in adults and children. The Company is also working on the identification of biomarkers to improve diagnosis of these underserved illnesses.
Sensorion’s portfolio also comprises clinical-stage small molecule programs for the treatment and prevention of hearing loss disorders. Sensorion’s clinical-stage portfolio includes one Phase 2 product: SENS-401 (Arazasetron) progressing in a planned Phase 2 proof of concept clinical study of SENS-401 in Cisplatin-Induced Ototoxicity (CIO) and, with partner Cochlear Limited, in a study of SENS-401 in patients scheduled for cochlear implantation. A Phase 2 study of SENS-401 was also completed in Sudden Sensorineural Hearing Loss (SSNHL) in January 2022.
www.sensorion.com

Label: SENSORION
ISIN: FR0012596468
Mnemonic: ALSEN