Poxel SA Finalizes Recovery Plan to Strengthen Financial Stability

Poxel SA has announced the finalization of its recovery plan, aiming to boost commercial development and reduce costs. The plan, supported by financial partner IPF, involves a commitment of up to €11.25 million from IPF and IRIS. The recovery strategy will be discussed in a webinar for shareholders on November 26.

The plan prioritizes partnerships to commercialize Imeglimine outside Japan and focus on key assets like PXL770 and PXL065. Cost reduction measures include workforce adjustments, outsourcing, and listing on Euronext Growth to cut regulatory expenses. Debt settlements are planned by converting IPF debt into shares and structuring payments to other creditors.

The shareholders' general meeting on December 11 will be crucial for securing approval for capital transactions. These measures are essential to maintain operations and avoid liquidation.