DGAP-News: Newron Pharmaceuticals S.p.A.
/ Key word(s): Financing/Miscellaneous
Newron Receives Fifth Tranche from Financing Agreement with European Investment Bank (EIB)
18.10.2021 / 17:45
The issuer is solely responsible for the content of this announcement.
Newron Receives Fifth Tranche from Financing Agreement with
European Investment Bank (EIB)
Milan, Italy - October 18, 2021, 5:45 pm CEST - Newron Pharmaceuticals S.p.A. ("Newron") (SIX: NWRN, XETRA: NP5), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system, announces that it has received Tranche 5 under its financing agreement with the European Investment Bank (EIB) that was signed in October 2018 and comprises up to EUR 40 million, subject to achieving a set of agreed performance criteria. The EIB loan is backed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment plan for Europe. Tranche 5 consists of EUR 7.5 million and will primarily be used to support the Company's development programs in diseases of the central nervous system. The first four tranches of the loan, totaling EUR 32.5 million, were received by Newron in 2019, 2020 and in September 2021.
In connection with Tranche 5, EIB has received warrants entitling it to purchase up to 151,344 ordinary shares of Newron at an exercise price of EUR 9.25 per share.
About Newron Pharmaceuticals
Newron (SIX: NWRN, XETRA: NP5) is a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system. The Company is headquartered in Bresso near Milan, Italy. Xadago(R)/safinamide has received marketing authorization for the treatment of Parkinson's disease in the European Union, Switzerland, the UK, the USA, Australia, Canada, Brazil, Colombia, Israel, the United Arab Emirates, Japan and South Korea, and is commercialized by Newron's Partner Zambon. Supernus Pharmaceuticals holds the commercialization rights in the USA. Meiji Seika has the rights to develop and commercialize the compound in Japan and other key Asian territories. Newron is developing evenamide as the potential first add-on therapy for the treatment of patients with positive symptoms of schizophrenia. For more information, please visit:
For more information
Newron
Stefan Weber - CEO, 26,
UK/Europe
Simon Conway/ Natalie Garland-Collins, FTI Consulting, +44 (0)20 3727 1000,
Switzerland
Valentin Handschin, IRF Reputation, 4,
Germany/Europe
Anne Hennecke/Caroline Bergmann, MC Services, 0,
USA
Paul Sagan, LaVoieHealthScience, , Ext. 112,
18.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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