Genomic Vision Requests Receivership Proceedings

Regulatory News:

Genomic Vision (FR0011799907 – GV, the “Company”), a Euronext-listed biotechnology company that develops products and services for the highly accurate characterization of transformed cells, announces having filed today a declaration of cessation of payments ("déclaration de cessation des paiements") with the Commercial Court of Nanterre.

The employee representative bodies were informed on October 31, 2023.

Given the evolution of its share price and the liquidity of the shares on the market, Genomic Vision was no longer able to cover all its cash needs.

To date, the Company reports current liabilities and does not have sufficient available resources to meet them.

In this context, the Company has today requested the opening of receivership proceedings (“procédure de redressement judiciaire”) with the Commercial Court of Nanterre.

The purpose of these proceedings is to evaluate all solutions that could enable the Company to continue its activity in a long-term way, maintain employment, and also to attract investors within the framework of a recovery plan by way of continuation or a sale plan.

The Commercial Court of Nanterre will rule on this request for the opening of receivership proceedings during a hearing to be held on November 15, 2023. If the Commercial Court grants the Company's request, the Company will continue its current activities during the observation period of a duration set by the Court. The Court may decide to open liquidation proceedings if it considers that the financing of an observation period is not assured.

Genomic Vision will inform the financial markets of the decision of the Commercial Court of Nanterre.

Genomic Vision has asked Euronext to suspend the listing of its shares from 6 November 2023 before the opening of trading. Given the uncertainty regarding the outcome of the receivership proceedings and the steps taken by the Company, the suspension of the listing of the shares is maintained until further notice.

Press releases will be published regularly as the procedure moves forward.

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ABOUT GENOMIC VISION

GENOMIC VISION is a biotechnology company that develops products and services for the highly accurate characterization of genome modifications. We deliver high-quality integrated genomic analysis solutions to improve quality control and bioproduction standards of advanced gene therapies at scale. Based on molecular combing technology and artificial intelligence, The Company provides robust quantitative measurements needed for high confidence characterization of transformed cell lines and prediction of cell line performance, in particular in the context of the biomanufacturing processes of cell and gene therapies. Genomic Vision’s molecular combing technology has further applications in drug development of agents targeting DNA replication and damage response mechanisms, visualizing DNA replication kinetics and telomere length maintenance. Genomic Vision, based near Paris in Bagneux, is a public company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907).