OSE Immunotherapeutics Signs €7 Million Non-Dilutive Loan Agreement Guaranteed by the French State

Regulatory News:

OSE Immunotherapeutics (Paris:OSE) (ISIN: FR0012127173; Mnémo: OSE), today announced the signature of a €7 million non-dilutive loan agreement, with a pool of French banks, providing the company with further financing to advance its clinical and preclinical development programs.

This loan is part of a loan facility guaranteed by the French State ("Prêt Garanti par l’Etat") and was implemented in the context of the COVID-19 pandemic. This funding strengthens OSE Immunotherapeutics' cash position and extends its cash runway from Q1 2021 to Q3 2021.

This loan is guaranteed up to 90% by the French State and has an initial maturity of 12 months, with a 5-year extension option decided by OSE Immunotherapeutics (up to May 2026). This new financing, solicited as part of the French government's initiatives to support companies in the current health crisis, enables OSE Immunotherapeutics to benefit from the support of Bpifrance, BNP Paribas, CIC, Crédit Mutuel.

Alexis Peyroles, Chief Executive Officer of OSE Immunotherapeutics, comments: “We thank the French government and our banking partners for supporting us with this significant financing. Reinforcement of our cash position will help accelerate advancement of our clinical and preclinical programs in immuno-oncology and autoimmune diseases, as well as our recently-announced program to develop a prophylactic vaccine against the pandemic virus SARS-CoV-2.”

ABOUT OSE Immunotherapeutics

OSE Immunotherapeutics is a clinical-stage biotechnology company focused on developing and partnering therapies to control the immune system for immuno-oncology and autoimmune diseases. The company has several scientific and technological platforms including neoepitopes and agonist or antagonist monoclonal antibodies, all ideally positioned to fight cancer and autoimmune diseases. Its first-in-class clinical and preclinical portfolio has a diversified risk profile:

- Tedopi (innovative combination of neoepitopes) : the company’s most advanced product ; positive results for Step-1 of the Phase 3 trial (Atalante 1) in Non-Small Cell Lung Cancer post checkpoint inhibitor failure; due to Covid-19, voluntary definitive suspension of new patient accrual in the Step-2 initially planned in the trial.

In Phase 2 in pancreatic cancer (TEDOPaM, sponsor GERCOR) in combination with checkpoint inhibitor Opdivo.

- BI 765063 (OSE-172, anti-SIRPα monoclonal antibody): developed in partnership with Boehringer Ingelheim; myeloid checkpoint inhibitor in Phase 1 in advanced solid tumors.