On January 20, 2020 NOXXON Pharma N.V. (Paris:ALNOX) (Euronext Growth Paris: ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), reported that following discussions with investors it has received commitments for an investment of another €0.5 million through a private placement to complement the private placement of €0.5 million announced on January 14, 2020 (Press release, NOXXON, JAN 20, 2020, View Source [SID1234553345]).

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"With this capital increase we welcome a new group of European investors to NOXXON. Consistent with our recent capital increases, for which we have attracted long-term equity investors, there are no warrants or other option-like instruments attached to this financing," said Aram Mangasarian, CEO of NOXXON.

The price agreed with investors was aligned with the private placement of the previous week at €0.51 per share. As such, it is anticipated that 980,391 new shares will be issued in the context of this financing. Closing and settlement of this transaction is expected within the next seven days.

See the annex of this press release for further details on the dilution related to this transaction.