Pharnext Announces Financing of €11 Million Through a Capital Raise Subscribed by Existing Shareholders and a Convertible Bonds Issued to European Investors; European Investors Also Provide Indication of Interest for an Additional Amount of up to €25 Million in Convertible Bonds
Pharnext SA, an advanced late-stage clinical biopharmaceutical company pioneering new approaches to developing innovative drug combinations based on big genomics data and artificial intelligence using its PLEOTHERAPY™ platform, today announced a financing of €11 million through the combination of a €6 million capital raise subscribed by two existing shareholders by way of issuance of new ordinary shares (the “New Shares”) with one warrant attached (together with the New Shares, the “ABSA”) and €5.0 million of convertible bonds (the “ConvertibleBonds”) subscribed by European investors, who have expressed strong written interest for a potential additional €25 million in similar convertible bonds over the next 30 months, depending on future market conditions.