Pharnext announces the termination of the financing contract granted by Néovacs

Paris, July 4, 2024 – Pharnext SCA, a biopharmaceutical company, announces the early termination of the bond financing agreement concluded with Néovacs in September 2022. This agreement had been managed by a trustee since October 2022.

This decision follows the detection of default events, announced on July 3, 2024. Following this termination, the trustee requests an early repayment of 22 million euros. In the absence of payment, the trustee could realize the security interests granted over the intellectual property and financial assets of Pharnext.

Pharnext is now seeking the support of Global Tech Opportunities 13, another financial partner, to define a legal framework appropriate to this situation. The company undertakes to regularly inform its shareholders.