Advicenne Initiates Safeguard Proceedings to Restructure Debt

Advicenne, a pharmaceutical company focused on treatments for rare kidney diseases, has announced the initiation of safeguard proceedings. This legal measure, granted by the Paris Commercial Court, aims to restructure its €29.3 million debt, thereby preserving cash flow until Q1 2027. The safeguard proceedings freeze existing liabilities while allowing Advicenne to maintain its commercial and clinical activities.

The company owes €16.5 million to the European Investment Bank and €10.3 million to the French government. The latter debt stems from a reform requiring repayment of revenue from innovative medicines sales in France. Advicenne's management is working on a financing plan involving current and potential shareholders to ensure financial stability.

The restructuring is part of a broader strategy to support the success of Sibnayal® in Europe and the Middle East and to secure strategic partnerships. The Paris Commercial Court has appointed legal representatives to oversee the process. Regular updates on Advicenne's financial status will be provided.