Sensorion completes a capital increase of €18.1 million subscribed by leading biotech investors

Regulatory News:

Sensorion (FR0012596468 – ALSEN) a pioneering clinical-stage biopharmaceutical company which specializes in the development of novel therapies to restore, treat and prevent inner ear diseases such as hearing loss, tinnitus and vertigo, today announced the successful completion of a capital increase of €18.1 million supported by Invus, Sofinnova Crossover I SLP and new investors including WuXi AppTec and 3SBio. The participation of Invus, Sofinnova Crossover I SLP and Marijn Dekkers in this financing round demonstrates their continued support in the Company’s long-term strategy.

“The successful completion of this financing round will put Sensorion in a much stronger position. With visibility until mid Q1 2021, we can now fully focus on the execution of our strategy and advance our rich pipeline which includes clinical stage small molecules and exciting gene therapy programs. We are delighted to welcome among our shareholders two renowned Chinese healthcare investors. The relationship with 3SBio will help us build a credible strategy for the China region. We are also pleased that Invus, Sofinnova Partners and Marijn Dekkers have renewed their trust into Sensorion” comments Nawal Ouzren, Sensorion CEO.

Reasons for the issuance and use of the proceeds

Gross proceeds from the transaction are €18.1million and will primarily be used to finance the phase 2 clinical programs for SENS-111 and SENS-401, the initiation of preclinical projects in gene therapy and the Company's overhead costs and expenses. Company’s financial visibility will be extended from the second half of 2020 to mid Q1 2021.

Key upcoming milestones

• Results of the phase 2 study on the efficacy of SENS-111 in acute unilateral vestibulopathy by the end of the year 2019
• Interim safety results of the phase 2 of SENS-401, in sudden hearing loss (SSNHL), by the end of the year 2019 and top line read out at the end of H1 2020

• Initiation of two preclinical gene therapy programs targeting Usher type 1 syndrome and Otoferlin deficiency, two monogenic forms of deafness. The programs are part of the framework agreement that was signed with the Institut Pasteur

Key characteristics of the share capital increase