GeNeuro Launches an Offering With a Commitment to Subscribe by Existing Shareholders and Announces Its Cash Position at December 31, 2023

Regulatory News:

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GeNeuro (Euronext Paris: CH0308403085 - GNRO), a biopharmaceutical company focused on stopping the progression of neurodegenerative and autoimmune diseases such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and Post-Acute Sequelae of COVID-19 (PASC, long-COVID or post-COVID), today announces the launch of a private placement of ordinary shares to be issued by the Company, in connection with a share capital increase without preferential subscription rights of an indicative amount of €5 million by way of a private placement reserved to certain qualified investors, with an accelerated book-building; the offering will also include a public offering for retail investors, in France only through the PrimaryBid platform. The Company also announces its 2023 year-end cash position.

Cash position at December 31, 2023

At December 31, 2023, GeNeuro had €1.8 million in cash and cash equivalents. In addition, the Company implemented a non-recourse bank pre-financing of €1 million for its 2022 Research Tax Credit, which was received in cash in January 2024; taking this into account, the said cash and cash equivalent unaudited position as at 31 December 2023 would amount to €2.8 million.

As announced in November 2023, the Company completed the recruitment of its Phase 2 trial evaluating temelimab against Post-COVID and expects topline results in June 2024. The trial “Temelimab as a Disease Modifying Therapy in Patients With Neuropsychiatric Symptoms in Post-COVID 19 or PASC Syndrome” is a randomized, placebo-controlled, biomarker-based, Phase 2 clinical trial assessing the effect of the treatment with temelimab on the clinical course of these symptoms. The trial has recruited 203 patients across 14 clinical centers in Switzerland, Spain and Italy. All enrolled patients receive 6 intravenous infusions of temelimab or placebo (1 to 1 randomization) over 24 weeks. The clinical endpoints will assess the efficacy and the safety of the treatment with temelimab on the improvement in fatigue as well as a large panel of cognitive impairment measures.