Poxel Establishes Equity Line with IRIS Capital

Poxel SA, a clinical-stage biopharmaceutical company, announced the establishment of an equity line with IRIS Capital to support its recovery plan. This equity line, branded as "SmartATM®," allows Poxel to access a maximum of €5 million over five years. This financial measure aims to strengthen Poxel's financial foundation amidst its ongoing bond debt restructuring with IRIS.

The new financing structure involves the issuance of warrants to IRIS, which can be converted into shares, thereby offsetting claims held by IRIS against Poxel. However, this move may introduce volatility in Poxel's share price as IRIS does not intend to maintain its shareholdings.

The equity line agreement is part of broader efforts to stabilize the company's financial status as it develops treatments for chronic diseases like metabolic dysfunction-associated steatohepatitis. CEO Nicolas Trouche regards this as a pivotal step in implementing the company's recovery strategy.