AB Science provides an update on the renegotiation of loan repayment terms with its financial creditors
PRESS RELEASE
AB SCIENCE PROVIDES AN UPDATE ON THE RENEGOTIATION OF LOAN REPAYMENT TERMS WITH ITS FINANCIAL CREDITORS
- AGREEMENT IN PRINCIPLE HAS BEEN REACHED ON A TWO-YEAR DEFERRAL OF REPAYMENT OF STATE-GUARANTEED LOANS
- SAVINGS OVER THE PERIOD WILL BE INVESTED IN R&D
-
THIS AGREEMENT IS CONDITIONAL ON THE REPAYMENT DATE OF THE EIB COVID LOAN BEING POSTPONED, NEGOTIATIONS ON WHICH ARE CURRENTLY UNDERWAY.
Paris, June 30, 2025, 8am CET
AB Science SA (Euronext - FR0010557264 - AB) today announced that an agreement in principle has been reached with its financial creditors to postpone by 24 months the repayment of its bank debt (for a total amount of around 3.7 million euros at the opening of the conciliation procedure in January 2025). The implementation of this agreement is conditional on the postponement by at least 12 months of the repayment of a loan taken out with the EIB (for a total principal amount of 12 million euros, initially repayable in January and December 2028).
Throughout the negotiation period, a standstill was granted by the creditors.
The financial creditors unanimously agreed to the following restructuring terms :
- State-guaranteed loans (PGE) for a balance of 3.5 million euros
- Freeze on principal repayments from January 1, 2025 to December 31, 2026
- Resumption of amortization on January 1th, 2027
- Extension of the repayment period for the balance of 3.5 million euros, quarterly between March 31, 2027 and March 31, 2029
- Innovation loan for a balance of 0.2 million euros
- Freeze on principal repayments from January 1, 2025 to September 30, 2025
- Resumption of amortization on October 1st, 2025
- Repayment of the balance of 0.2 million euros, quarterly between December 31, 2025 and June 30, 2026.
The banks' agreement is conditional on the postponement by at least 12 months of the start of amortization of the EIB loan. The loan with the EIB is granted in two tranches of 6 million euros each, with the first tranche maturing on January 1, 2028 and the second on December 31, 2028. The Company is pursuing discussions with the EIB to obtain this postponement.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a class of targeted proteins whose action are key in signaling pathways within cells. Our programs target only diseases with high unmet medical needs, often lethal with short term survival or rare or refractory to previous line of treatment.
AB Science has developed a proprietary portfolio of molecules and the Company’s lead compound, masitinib, has already been registered for veterinary medicine and is developed in human medicine in oncology, neurological diseases, inflammatory diseases and viral diseases. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB).
Further information is available on AB Science’s website: www.ab-science.com.
Forward-looking Statements - AB Science
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates as well as the assumptions on which they are based, statements based on projects, objectives, intentions and expectations regarding financial results, events, operations, future services, product development and their potential or future performance.
These forward-looking statements can often be identified by the words "expect", "anticipate", "believe", "intend", "estimate" or "plan" as well as other similar terms. While AB Science believes these forward-looking statements are reasonable, investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict and generally beyond the control of AB Science and which may imply that results and actual events significantly differ from those expressed, induced or anticipated in the forward-looking information and statements. These risks and uncertainties include the uncertainties related to product development of the Company which may not be successful or to the marketing authorizations granted by competent authorities or, more generally, any factors that may affect marketing capacity of the products developed by AB Science, as well as those developed or identified in the public documents published by AB Science. AB Science disclaims any obligation or undertaking to update the forward-looking information and statements, subject to the applicable regulations, in particular articles 223-1 et seq. of the AMF General Regulations.
For additional information, please contact:
AB Science
Financial Communication & Media Relations
investors@ab-science.com
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