Leuven, Belgium - November 5, 2024 - 10:30 AM CET - Oxurion NV (Euronext Brussels: OXUR) announces that it terminated the private judicial reorganization (PRJ) procedure initiated on August 22, 2024. The Company had not taken any step towards its creditors within such procedure as it continued to dialogue with its creditors outside the framework of that procedure. Following such discussions, amicable agreements were reached with its key creditors. These creditors were mainly suppliers related to the THR-149 and THR-687 programs.
At the start of the procedure, the total debt of the company amounted to €14.7 million, of which €9 million was owed to Atlas. As per the agreements the debt is reduced by €3.5m and stands now at €11.2m of which €9.05m owed to Atlas. No conditions precedent nor conditions subsequent are included in those agreements.
The company is currently not negotiating other agreements with its creditors but might do so in the coming months.
About Oxurion
Oxurion (Euronext Brussels: OXUR) specializes in developing next-generation therapies for retinal diseases. The company is headquartered in Leuven, Belgium. More information is available at www.oxurion.com
Important Information on Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking." These forward-looking statements are based on current expectations and are subject to various risks and uncertainties. Consequently, the company cannot guarantee that these forward-looking statements will materialize and undertakes no obligation to update or revise them in light of new information, future events, or for any other reason. Additional information regarding the risks and uncertainties affecting the company, as well as other factors that could lead to material differences between actual results and forward-looking statements, is included in the company's annual report. This press release does not constitute an offer or invitation to sell or purchase any Oxurion securities or assets in any jurisdiction.
No Oxurion securities may be offered or sold in the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption from this Act, and in accordance with applicable state securities laws in the United States.
Contacts :
OXURION NV:
Pascal Ghoson, CEO pascal.ghoson@oxurion.com
Contact presse et investisseurs: Gabriel Rafaty I Oxurion@aimpact.net
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https://www.actusnews.com/documents_communiques/ACTUS-0-88607-prj-termination-and-debt-reduction-en_20241105.pdf
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