Sensorion obtains 3 million euros in loans, including 2 million euros guaranteed by the French government (PGE) and 1 million euros of RDI loan via Bpifrance

October 15, 2020 05:30 UTC

MONTPELLIER, France – (COMMERCIAL THREAD) – Regulatory News:

Sensorion (Paris: ALSEN) (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company specializing in the development of new therapies to restore, treat and prevent hearing disorders, announces the signing of an agreement with three banks for a loan of 3 million euros in the context of the COVID-19 pandemic, including 2 million euros guaranteed by the French State and 1 million euros for a Research, Development and Innovation (RDI) loan from Bpifrance.

The loans of 2 million euros are part of the French State’s PGE scheme, which guarantees 90% of loans granted by credit institutions and finance companies. Société Générale will contribute € 1.5 million and CIC € 500,000. This loan extends Sensorion’s cash flow track until the start of the fourth quarter of 2022.

About Sensorion
Sensorion is a pioneering clinical-stage biotechnology company specializing in the development of new therapies to restore, treat and prevent hearing loss disorders. Its clinical-stage portfolio includes a phase 2 product: SENS-401 (Arazasetron) for sudden sensorineural hearing loss (SSNHL). Sensorion has built a unique R&D technology platform to broaden its understanding of the pathophysiology and etiology of inner ear-related diseases, enabling it to select the best targets and modalities for drug candidates. The Company is also working to identify biomarkers to improve the diagnosis of these underserved diseases. In the second half of 2019, Sensorion launched two preclinical gene therapy programs aimed at correcting hereditary monogenic forms of deafness including Usher Type 1 and deafness caused by a mutation in the gene encoding Otoferlin. The Company is uniquely positioned, through its platforms and pipeline of potential therapies, to have a lasting positive impact on hundreds of thousands of people with inner ear disorders, a significant unmet global medical need.

www.sensorion-pharma.com

Label: SENSOR
IS IN: FR0012596468
Mnemonic: ALSEN

Warning
This press release contains certain forward-looking statements regarding Sensorion and its activities. These forward-looking statements are based on assumptions that Sensorion considers to be reasonable. However, there can be no guarantee that these forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set out in the reference document “Reference document” filed with the Autorité des marchés financiers (AMF Autorité des marchés financial) on September 7, 2017 under number R.17-062 and to changes in economic conditions, financial markets and the markets in which Sensorion operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Sensorion or currently considered insignificant by Sensorion. The occurrence of all or part of these risks could cause the actual results, financial conditions, performance or achievements of Sensorion to differ materially from these forward-looking statements.

This press release and the information it contains do not constitute an offer to sell or subscribe, nor a solicitation of an offer to buy or subscribe to Sensorion shares in any country whatsoever. The distribution of this press release in certain countries may constitute a violation of local laws and regulations. Anyone who receives this press release should inform themselves about and comply with these local restrictions.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20201014005929/en/

Source link

About Wilhelmina Go

Check Also

How to be comfortable delegating

In his book, The art of being unreasonableEli Broad, the only person who started two …