(AOF) – Nanobiotix has obtained an agreement in principle from the European Investment Bank to restructure € 30.7 million of the loan agreement signed in 2018. The agreement is in principle structured around the expected cash flows from Nanobiotix around its potential future growth levers, including the hypothesis of NBTXR3 commercialization and possible partnerships.
This agreement provides in principle for the deferral of approximately € 25.3 million of principal repayments until June 2029 and of approximately € 5.4 million of capitalized interest payments until October 2024.
It also includes the payment in 2029 of an additional amount limited to a maximum of 20 million euros, the maturity of which could be accelerated if one of these expected cash flows occurs.
The original credit will continue to accrue payable interest until the new maturities. The commencement of the six-year annual royalty period is also postponed to commence on the first marketing date of NBTXR3.
“The restructuring of this EIB loan by extending its maturity date will allow Nanobiotix to focus on its NBTXR3 priority development programs until 2023, while extending its operational capacity by a quarter. With the potential access to additional capital resources to Using the existing capital line, the operating company could extend the capacity up to the first quarter of 2024 “, commented art Van Rhijn, chief financial officer of Nanobiotix.
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