Nanobiotix Secures €10M in Non-Dilutive Financing

On June 8, 2020 NANOBIOTIX (Paris:NANO) (Euronext: NANO – ISIN: FR0011341205 – the "Company"), a clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, reported that it has received financing approval from HSBC and Bpifrance for a total of €10 million in the form of state-guaranteed loans (Prêts Garantis par l’Etat, or PGE in France) (Press release, Nanobiotix, JUN 8, 2020, View Source [SID1234560903]).

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Each individual lender will provide a loan of €5 million with fixed interest rates of 0.25% and 1.75% per annum. The French government will guarantee 90% of the amounts due.

Each loan has an initial term of 1 year. Repayment of the principal amount due may be further deferred at the option of the Company until June 2025.

The approved loans are non-dilutive to shareholders and will allow the company to extend cash visibility into the third quarter of 2021.