Adocia has been granted a State guaranteed loan (PGE) of 7 million euros associated with a rescheduling of the maturities of the loan contracted in 2019

Lyon, France–(COMMERCIAL THREAD) – Regulatory news:

Adocia (Euronext Paris: FR0011184241 – ADOC- le “Society“) (Paris: ADOC), a clinical-stage biopharmaceutical company focused on treating diabetes and other metabolic diseases with innovative approved protein formulations, today announced $ 7 million in non-dilutive funding euros has been approved by BNP, HSBC, LCL and Bpifrance in the form of a government guaranteed bank loan (PGE).

“We would like to thank Bpifrance and our partner banks, BNP, HSBC and LCL for their support and the granting of a bank loan guaranteed by the State (PGE). In this context, we would like to thank our partner, IPF Partners, for also contributing to support our company by rescheduling the repayments of bank loans for an amount of 2 million euros ”, commented Valérie Danaguezian, Chief Financial Officer of Adocia. “These two operations strengthen our cash position by 9 million euros, which allows us to accelerate the clinical program provided for in our operation plan.

These bank loans are guaranteed by the French State for 90% of the amounts due and are repayable from the first year. At the end of the first year, the repayment of the loans may be deferred again and amortized over a maximum period of 5 years, at the choice of the Company. These bank loans will have fixed interest rates ranging from 0.25% to 1.75% for the first year.¹.

The Company was also granted, by its partner IPF Partners, a rescheduling of the repayment of the loan contracted in 2019 for a total amount of 15 million euros.². The Company benefits from the postponement of its capital payment deadlines until December 2021, which represents a 12-month cash outflow postponement of € 2 million. The due dates of the two installments do not change.

In view of this postponement, the board of directors of July 20, 2020³ has decided to grant IPF Fund II SCA SICAV FIAR a total number of 35,005 free warrants (BSA), under conditions similar to those granted to IPF Fund II SCA SICAV FIAR under the main contract⁴, the exercise price of the warrants amounting to EUR 7.70⁵. The number of BSA corresponds to 15% of the deferred capital amount, ie EUR 300,000. As of the date of this press release, excluding the adjustment of the exercise price of the BSA, the number of shares that may be issued would be 38,961, or approximately 0.5% of the Company’s capital.

About Adocia

Adocia is a clinical-stage biotechnology company specializing in the development of innovative formulations of therapeutic proteins and peptides for the treatment of diabetes and metabolic diseases. In diabetes, Adocia’s portfolio of injectable therapies is among the largest and most differentiated in the industry, with five clinical stage products and three preclinical stage products. The proprietary BioChaperone^® technology platform is designed to improve the efficacy and / or safety of therapeutic proteins while making them easier to use for patients. Adocia personalizes BioChaperone to each protein for a given application.

Adocia’s clinical pipeline includes four new formulations of insulin for the prandial treatment of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone^® Lispro U100 and U200), a combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone^® Combo) and a combination of a mealtime insulin with an amylin analogue pramlintide M1Pram (ADO09). The clinical pipeline also includes an aqueous formulation of human glucagon (BioChaperone^® glucagon) for the treatment of hypoglycemia.

Adocia’s preclinical pipeline includes three products: a combination of rapid analogues of human insulin and Pramlintide (BioChaperone^® LisPram), a combination of insulin glargine with GLP-1 receptor agonists (BioChaperone^® Glargine GLP-1) for the treatment of diabetes and a ready-to-use combination of glucagon and a GLP-1 receptor agonist (BioChaperone^® Glucagon GLP1) for the treatment of obesity.

Adocia aims to offer “innovative medicine for everyone, everywhere”.

To learn more about Adocia, visit us at www.adocia.com

Warning

This press release contains certain forward-looking statements regarding Adocia and its business. These forward-looking statements are based on assumptions that Adocia considers to be reasonable. However, there can be no assurance that the estimates contained in these forward-looking statements will be verified, which estimates are subject to numerous risks, including the risks set out in the “Risk factors” section of the Universal Registration Document filed with the Authority. French. financial markets on April 22, 2020 (a copy of which is available at www.adocia.com) and changes in economic conditions, financial markets and the markets in which Adocia operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or currently considered to be immaterial by Adocia. The occurrence of all or part of these risks could cause the actual results, financial conditions, performance or achievements of Adocia to differ materially from these forward-looking statements.

This press release and the information it contains do not constitute an offer to sell or the solicitation of an offer to buy Adocia shares in any jurisdiction.

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¹ These interest rates are likely to change for the following years, in the event that the Company decides to defer the repayment of the principal, without they being able, in any case, to exceed the cost of financing of the banks increased by the guarantee. of State. commission.

² For more information on this financing, see the Company’s press release dated October 14, 2019 and section 1.2.7.5 of its universal registration document filed with the Autorité des marchés financiers on April 22, 2020.

³ Making use of the delegation conferred on it by the Combined General Meeting of May 28, 2020, in the terms of its eighteenth resolution, and in accordance with Article L. 225-138 of the French Commercial Code.

⁴ For more information on the terms and conditions of the BSA, please consult the Company’s press release of October 14, 2019 and sections 1.2.7.5 and 5.1.5.1 of its universal registration document filed with the Autorité des financial markets., financial statements as of April 22, 2020.

⁵ It being specified that this price may be subject to adjustments, in particular in the event of the issue by the Company of new shares (excluding employee and managerial incentives) at a price lower than this amount during the exercise period of the warrants. . , without being able, in any event, to be less than the par value of a share in the Company (i.e. 0.10 euro) or less than the floor price set under the terms of the eighteenth resolution of the general meeting of May 28, 2020