Pixium Vision exits bond financing facility with Kreos Capital and pursues its international development

Pixium Vision exits bond financing facility with Kreos Capital and pursues its international development

Paris, Sept 10^th  2020 – 0730 am CET– Pixium Vision (Euronext Growth Paris - FR0011950641), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, today announces it has reimbursed its bond financing facility with Kreos Capital, a leading growth debt provider for high growth companies in Europe.

The bond financing facility was opened in September 2016. Pixium Vision drew down 8 million euros in 2017, through two tranches of 4 million euros each, and restructured the agreement in August 2018. The convertible bonds with 1-euro par value were refundable on September 1^st 2020, with the option to postpone for one additional year, corresponding to the Tranche A due date.

The main characteristics of the convertible bonds and warrant can be found from page 55 to page 57 of the Document de Reference

“We would like to thank Kreos Capital for its support of Pixium Vision, which enabled us to make important progress. The company has developed rapidly and with the repayment of this loan, which improves our financial and dilutive visibility to shareholders and gives us greater control over the intellectual property of our assets, we are now ready to take the next step in our development towards becoming a commercial organization,” said Lloyd Diamond, Chief Executive Officer of Pixium Vision.

“This is an exciting time for Pixium Vision based on the progress made with the Prima System, which has demonstrated its potential to improve patients’ vision and quality of life. We are now preparing for the upcoming start of the PRIMAvera pivotal study. Pixium Vision is fully funded until the end of 2021 and we are looking forward to bringing this promising product further towards market.”

Upcoming events

As Pixium Vision continues to strengthen its international visibility, the Company will participate in a series of High Net Worth individual events in Europe in September and October 2020.

To broaden the awareness around the Prima System, Pixium Vision is also organizing a virtual Key Opinion Leader meeting in October 2020 to present dry Age-related Macular Degeneration (dry AMD) and how Prima System addresses this debilitating disease to investors and financial analysts in the US.

Contacts

Pixium Vision Guillaume Renondin Chief Financial Officer [e-mail]