Pixium Vision exits bond financing facility with Kreos Capital and pursues its international development
Pixium Vision exits bond financing facility with Kreos Capital and pursues its international developmentParis, Sept 10th 2020 – 0730 am CET– Pixium Vision (Euronext Growth Paris – FR0011950641), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, today announces it has reimbursed its bond financing facility with Kreos Capital, a leading growth debt provider for high growth companies in Europe.The bond financing facility was opened in September 2016. Pixium Vision drew down 8 million euros in 2017, through two tranches of 4 million euros each, and restructured the agreement in August 2018. The convertible bonds with 1-euro par value were refundable on September 1st 2020, with the option to postpone for one additional year, corresponding to the Tranche A due date.The main characteristics of the convertible bonds and warrant can be found from page 55 to page 57 of the Document de Reference“We would like to thank Kreos Capital for its support of Pixium Vision, which enabled us to make important progress. The company has developed rapidly and with the repayment of this loan, which improves our financial and dilutive visibility to shareholders and gives us greater control over the intellectual property of our assets, we are now ready to take the next step in our development towards becoming a commercial organization,” said Lloyd Diamond, Chief Executive Officer of Pixium Vision.“This is an exciting time for Pixium Vision based on the progress made with the Prima System, which has demonstrated its potential to improve patients’ vision and quality of life. We are now preparing for the upcoming start of the PRIMAvera pivotal study. Pixium Vision is fully funded until the end of 2021 and we are looking forward to bringing this promising product further towards market.”Upcoming eventsAs Pixium Vision continues to strengthen its international visibility, the Company will participate in a series of High Net Worth individual events in Europe in September and October 2020.To broaden the awareness around the Prima System, Pixium Vision is also organizing a virtual Key Opinion Leader meeting in October 2020 to present dry Age-related Macular Degeneration (dry AMD) and how Prima System addresses this debilitating disease to investors and financial analysts in the US.ContactsPixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as: Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.About Kreos CapitalKreos Capital is the leading provider of growth-debt financing to high-growth companies in Europe and Israel with revenues up to EUR 300 million. Since 1998, as the pioneer growth debt provider across Europe and Israel, Kreos has completed close to 600 transactions and committed more than EUR 2.5 billion in 16 different countries. Kreos is dedicated to supporting management teams and their equity investors with flexible loan structures for all stages of a growth company’s development and to address the needs for growth capital, working capital, acquisition financings, lower mid-market buy-outs, roll-up strategies, banks re-financings as well as pre- and post-IPO financings. Kreos’s most recent fund, EUR 700 million Kreos VI, was launched in January 2019. The Kreos global team has extensive debt financing, management and equity investing experience, covering the markets in Europe and Israel from its locations in London, Tel-Aviv and Stockholm.For more information: http://www.pixium-vision.com/frFollow us on @PixiumVision; www.facebook.com/pixiumvision www.linkedin.com/company/pixium-vision
