ERYP - ERYTECH secures Euro10M in non-dilutive financing

ERYTECH Pharma (ERYP) has received approval for  for a total of €10M in non-dilutive financing from Bpifrance and Société Générale in the form of State-Guaranteed Loans in the context of the COVID-19 pandemic.Each of Bpifrance and Société Générale will provide a loan of €5M and the French government will guarantee 90% of the total amounts due, bearing interest at fixed rates of 1.75% and 0.25% p.a., with an initial term of one year. "Over the recent months, we have strengthened our financial position by putting in place a convertible bond facility in France and an ‘At-The-Market’ equity facility in the United States, and now this state-guaranteed, non-dilutive loan. As we continue to advance our late-stage clinical development programs, the additional financing is expected to further extend our cash horizon beyond our next key data readout milestones," said Eric Soyer, CFO & COO.

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ERYTECH secures €10M in non-dilutive financing