OctoPlus N.V.
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Publicatie datum
27 mrt 2008 - 21:28
Statutaire naam
OctoPlus N.V.
Titel
OctoPlus obtains bridge financing
Bericht
OctoPlus N.V. (“OctoPlus” or the “Company”) (Euronext: OCTO), the drug delivery and development company, announces today that it has been granted a bridge financing of up to € 4 million from its existing shareholders Life Sciences Partners and SR One to enable the Company to secure one or more of the longer term financing options currently under negotiation.
Life Sciences Partners and SR One, both specialist life sciences venture capital funds, have been participating in OctoPlus since 2005. The bridge financing is a strong endorsement of OctoPlus’ strategy and it enables the Company to secure one or more of the longer term financing options currently under negotiation, including a private offering to several qualified investors.
In view of these recent events, OctoPlus has decided to postpone publication of its 2007 annual report and its Annual General Meeting (AGM), which were planned for 31 March and 22 April, respectively. This will enable the Company to include the outcome of the ongoing negotiations in the 2007 annual report. New dates for the publication of the annual report and the AGM will be announced as soon as a final agreement has been reached.
The bridge financing loan carries 15% interest annually and may be substituted by each lender for a participation in a potential private offering, or alternatively, in ordinary shares, which will have a dilutive effect.
The Company reiterates its confidence to be able to advance its two Phase II clinical products to the next stage and to further grow its Contract Development business in 2008, as the Contract Development order book is once again better filled than at the same stage last year. In February OctoPlus had also announced the start of a US Phase IIa clinical study with Locteron, which is progressing according to plan.
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Datum laatste update: 21 januari 2026