- This finance contract will enable Median
Technologies to accelerate its investment program for the iBiopsy®
imaging phenomics platform
- Median expects the disbursement of the first
tranche of € 15 million during the first semester of 2020
Regulatory News:
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20191218005580/en/
Median Technologies (Paris:ALMDT), The Imaging Phenomics Company
(Euronext Growth – ALMDT) and the European Investment Bank (EIB)
announced today the signing of a € 35 million finance contract,
supported by the European Strategic Investment Fund (EFSI) or
"Juncker Plan". News about ongoing negotiations for this loan was
previously released on May 15, 2019.
This financing, divided into three (3) tranches, will enable
Median Technologies to enhance and accelerate its iBiopsy® imaging
platform investment program for the coming years. Median is a
cutting-edge AI and data sciences technology provider for precision
medicine. Through its proprietary iBiopsy® platform, Median is
developing non-invasive imaging biomarkers to enable the
identification of certain chronic disease – including cancer-
signatures, to dramatically enhance early detection, severity
quantification and monitoring of diseases. The objective is on one
hand to guide clinicians in their therapeutic decisions in the
context of precision and predictive medicine and, on the other
hand, to provide disruptive decision tools to foster medical
innovations and new therapy development.
Median will request the disbursement of the first tranche of €
15 million during the first semester of 2020. The contract then
provides for the disbursement of the second and third tranches (of
€ 10 million each) in the coming years, at Median Technologies’
discretion, subject to the completion of certain conditions
precedents specified in the finance contract. The repayment of this
financing will occur, in a single installment, at the end of a five
-year period after the disbursement date. The finance contract is
supplemented by the payment of various interests and fees and by a
guarantee granted by Median Technologies, Inc. (Median
Technologies’ US subsidiary).
Pursuant to the warrants issuance agreement, Median Technologies
will issue 800,000 warrants for the benefit of the EIB on the date
of disbursement of the first tranche and, where appropriate,
300,000 additional warrants on the date of disbursement of the
second tranche, at a subscription price of € 0.01. The exercise
price of these warrants will be determined based on the price of
one or more fundraising(s) of at least € 15 million carried out
within 15 months after the subscription date to which an increasing
discount will apply based on time, with a minimum of € 2 from the
16th month. The lifespan of these warrants is 15 years.
The warrants issuance agreement includes an exercise parity
adjustment clause which could apply, under certain conditions,in
case of capital increase. The EIB will be granted with the
possibility, under certain conditions, to request Median
Technologies to buy back its warrants for a maximum amount of € 50
million and, beyond that amount, to find a buyer and pay interests
on the price of the remaining warrants. The total amount of
warrants (for the two tranches) would represent up to 7.44 % of the
share capital fully diluted.
The objective of this financing, granted by the EIB together
with the European guarantee within the framework of the Juncker
plan, is to support research and innovation projects developed by
companies with substantial growth potential. Median Technologies
meets these criteria as its technologies have the potential to
impact the lives of hundreds of thousands of patients
worldwide.
The agreement was signed by the European Investment Bank and
Fredrik Brag, CEO and co-founder of Median Technologies on December
18, 2019.
“Through the Juncker Plan impulse, EIB has become a key player
in financing innovative companies, in particular companies involved
in the domains of Health and Artificial intelligence, which are the
core activities developed by Median Technologies “, said EIB
Vice-President, Mr. Ambroise Fayolle
Fredrik Brag, CEO and co-founder of Median Technologies
added: “We are very pleased to announce the signing of the finance
agreement with the European Investment Bank. The EIB financing will
allow us to accelerate our investment in the development of our
iBiopsy® platform with a strong focus in oncology and liver
disease. We are the next generation precision medicine company
focused on helping conquer cancer and other diseases through our
proprietary routine imaging tests. These novel non-invasive imaging
tests could dramatically impact early detection, diagnosis and
monitoring of diseases. We leverage our capabilities in technology,
artificial intelligence, clinical development, regulatory and
reimbursement to drive the development and commercial adoption of
our future iBiopsy® product line, improve patient clinical outcome
and lower healthcare costs.”
Forward-Looking Statements: This press release contains
forward-looking statements. Forward-looking statements are
statements that are not historical facts. These statements include
projections and estimates and their underlying assumptions,
statements regarding plans, objectives, intentions and expectations
with respect to future financial results, events, operations,
services, product development and potential, and statements
regarding future performance. Forward-looking statements are
generally identified by the words “expects”, “anticipates”,
“believes”, “intends”, “estimates”, “plans” and similar
expressions. Although Median’s management believes that the
expectations reflected in such forward looking statements are
reasonable, investors are cautioned that forward-looking
information and statements are subject to various risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of Median, that could cause actual results and
developments to differ materially from those expressed in, or
implied or projected by, the forward-looking information and
statements. These risks and uncertainties include among other
things, the uncertainties inherent in research and development,
future clinical data and analysis, including post marketing,
decisions by regulatory authorities such as the absence of
guarantee that the service if approved will be commercially
successful, the future approval, Median’s ability to benefit from
external growth opportunities, to complete related transactions
and/or obtain regulatory clearances, risks associated with
intellectual property, trends in exchange rates and prevailing
interest rates, volatile economic conditions, the impact of cost
containment initiatives and subsequent changes thereto, the average
number of shares outstanding as well as those discussed or
identified in the public filings with the AMF made by Median, other
than as required by applicable law, Median does not undertake any
obligation to update or revise any forward-looking information or
statements.
About the European Investment Bank (EIB) and the Juncker
Plan: Created by the Treaty of Rome in 1958, the EIB is the EU
bank, which, together with its dedicated SME support subsidiary the
European Investment Fund (EIF), forms the EIB Group. The EIB Group
provides its financing and know-how for sound and sustainable
investment projects meeting EU objectives.
Supported by its expertise and the financial attractiveness lent
by its AAA rating, the EIB Group is a key player in getting
investment back on track in Europe. It supports the real economy
while also attracting other investors by financing concrete
projects with an impact on people's lives. EUR 8.6bn of new
financing was allocated to support high quality growth and job
driving projects in France in 2017.
Website: www.eib.org/press
The Investment Plan for Europe: the so-called Juncker
Plan, is one of Jean-Claude Juncker's top priorities. It focuses on
boosting investments in Europe to create jobs and growth by making
smarter use of new and existing financial resources, removing
obstacles to investment and providing greater visibility and
technical assistance to investment projects. The European Fund for
Strategic Investments (EFSI), which is the central pillar of the
Investment Plan for Europe, enables the EIB Group to invest in
more, often riskier, projects with high added value. EFSI is
already showing concrete results. The projects and agreements
approved for financing under EFSI so far have mobilised EUR 408.4bn
in investments, of which EUR 69bn is in France. The plan is
supporting around 952 000 SMEs across all 28 Member States
About Median Technologies: Median Technologies provides
innovative imaging solutions and services to advance healthcare for
everyone. We leverage the power of Imaging Phenomics to provide
insights into novel therapies and treatment strategies. Our unique
solutions for medical image analysis and management in oncology
trials and iBiopsy® for imaging phenotyping, together with our
global team of experts, are advancing the development of new drugs
and diagnostic tools to monitor disease and assess response to
therapy. Median Technologies supports biopharmaceutical sponsors
and healthcare professionals around the world to quickly and
precisely bring new treatments to patients in need. This is how we
are helping to create a healthier world.
Founded in 2002, based in Sophia-Antipolis, France, with a
subsidiary in the US and another one in Shanghai, Median has
received the label “Innovative company” by the BPI and is listed on
Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT). For
more information: www.mediantechnologies.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191218005580/en/
European Investment Bank (EIB) Cyrille Lachèvre + 33 (0)6
20 42 12 08 c.lachevre@ext.eib.org
Median Technologies Emmanuelle Leygues Head of Corporate
Communications +33 6 10 93 58 88
emmanuelle.leygues@mediantechnologies.com
Press - ALIZE RP Caroline Carmagnol +33 6 64 18 99 59
median@alizerp.com
Investors - ACTIFIN Ghislaine Gasparetto +33 1 56 88 11
11 ggasparetto@actifin.fr
Median Technologies (EU:ALMDT)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Median Technologies (EU:ALMDT)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024