Adocia Announces the Subscription of the Second Tranche of the Financing Line Obtained From IPF Partners, Strengthening Its Cash Position to Exceed EUR 45 Million to Date

Regulatory News:

Adocia (Euronext Paris: FR0011184241 – ADOC) (Paris:ADOC), a clinical stage biopharmaceutical company focused on the treatment of diabetes and other metabolic diseases with innovative formulations of proteins and peptides, today announced that it subscribed to the second tranche of the financing line obtained from IPF Partners in October 11, 2019. The proceeds of such financing will be used to support Adocia’s portfolio development, in particular its clinical studies.

Adocia’s current cash position, following the issue of this second tranche, is above EUR 45 million.

This financing line consists in a bond issue, structured in two tranches of equal amounts, for a total amount of EUR 15 million. The first EUR 7.5 million tranche was subscribed on October 11, 2019, at the signing of the contract.

The Chief Executive Officer, using the sub-delegation granted by the Board of Directors of October 3^rd, 2019, itself using the delegation granted by the Company’s shareholders’ meeting of May 16^th, 2019, decided on December 10^th, to issue at a price of EUR 1 each 7,500,000 bonds with attached warrants (bons de souscription d’actions), representing an aggregate amount of EUR 7,500,000. To date, the number of ordinary shares likely to be issued as a result of the exercise of that second tranche would be 131,271 shares, representing 1.89% of the Company's share capital.
The other terms and conditions of the bonds issued pursuant to this second tranche and of the warrants attached to such bonds are the same as those of the first tranche, as described in Adocia’s October 14^th, 2019 press release.

About Adocia

Adocia is a clinical-stage biotechnology company that specializes in the development of innovative formulations of therapeutic proteins and peptides for the treatment of diabetes and other metabolic diseases. In the diabetes field, Adocia’s portfolio of injectable treatments is among the largest and most differentiated of the industry, featuring five clinical-stage products. Adocia aims to expand its portfolio towards the treatment of other metabolic diseases and their comorbidities.

The proprietary BioChaperone technological platform is designed to enhance the effectiveness and/or safety of therapeutic proteins while making them easier for patients to use. Adocia customizes BioChaperone to each protein for a given application. Adocia’s clinical pipeline includes four novel insulin formulations for the treatment of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone Lispro U100 and U200), a combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone Combo) and a combination of a prandial insulin with amylin analog pramlintide (M1 pram - ADO09. It also includes an aqueous formulation of human glucagon (BioChaperone Glucagon) for the treatment of hypoglycemia. Adocia preclinical pipeline includes a combination of insulin glargine with GLP-1 receptor agonists (BioChaperone Glargine GLP-1) for the treatment of diabetes and a ready-to-use combination of glucagon and a GLP-1 receptor agonist (BioChaperone Glucagon GLP1) for the treatment of obesity. Adocia is also exploring in preclinic the potential of its M1 Pram combination to treat people with type 2 diabetes suffering from neurological comorbidities, including Alzheimer’s disease.