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]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

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.