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GeNeuro seals a €7.5 million financing agreement with its shareholder GNEH, a subsidiary of Institut Mérieux

 

  • Support reaffirmed by Institut Mérieux, GeNeuro’s shareholder from the start of the company, facilitating the finalization of the financing strategy in 2019

 

  • Continued discussions with pharmaceutical groups on partnerships for development of GNbAC1 in multiple sclerosis

 

Geneva, Switzerland, December 20, 2018 – 5:45pm CET – GeNeuro (Euronext Paris: CH0308403085 - GNRO), a biopharmaceutical company developing new treatments for neurological and autoimmune diseases, including multiple sclerosis (MS) and type 1 diabetes (T1D), announces today the signing of a financing agreement with GNEH SAS, a subsidiary of Institut Mérieux, to establish a €7.5 million credit line.

 


Jesús Martin-Garcia, Chairman and Chief Executive Officer of GeNeuro, commented: “This credit line, which complements our existing financial resources, gives GeNeuro additional flexibility to pursue its partnership and development strategy for GNbAC1 in multiple sclerosis and, depending on the outcome of the discussions, to finalize its longer-term financing strategy. It represents a renewed demonstration of support from Institut Mérieux, which has stood alongside GeNeuro since its launch in 2006.”

 

 

Read the press release