PRESS RELEASE
AB SCIENCE announces a final agreement on the renegotiation of the repayment terms of its loans with all of its financial creditors
- AB Science has reached a final agreement with its financial creditors
- This agreement provides for a two-year deferral of repayment of the State-Guaranteed Loans and a 12-month deferral of the repayment date of the EIB Covid credit
- The savings over the period will be invested in R&D
Paris, April 27, 2026, 6pm CET
AB Science SA (Euronext - FR0010557264 - AB) announces today that a final agreement has been reached with its financial creditors for the 24-month deferral of repayment of its bank debt (for a total amount of approximately €3.7 million) and the 12-month deferral of repayment of a loan subscribed with the EIB (for a total principal amount of €12 million, initially repayable in January and December 2028).
Throughout the entire negotiation period, a standstill was granted by the creditors.
Un unanimous agreement from the financial creditors was obtained on the following restructuring terms:
- State-Guaranteed Loans (PGE) for a balance of €2.3 million
- a 24-month capital grace period from the opening date of the first conciliation procedure in favour of AB Science, i.e. January 17, 2025, with resumption of amortisation from January 31, 2027 for Société Générale and February 2, 2027 for Banque Populaire;
- a 24-month extension of maturity, deferring the final maturity date from April 2, 2027 to April 2, 2029 for Banque Populaire and from March 31, 2027 to March 31, 2029 for Société Générale;
- an increase in the interest rate solely to reflect the change in refinancing cost.
- Bpifrance Innovation Support Loan for a balance of €1.25 million
- a 24-month capital grace period from November 1st 2024 (instalment due on January 31, 2025) to October 31, 2026 inclusive (capital instalment due on January 31, 2027);
- a 24-month extension of maturity, deferring the final maturity date from April 30, 2027 to April 30, 2029;
- an increase in the interest rate solely to reflect the change in refinancing cost.
- Bpifrance Strategic Industrial Innovation Project Framework Agreement for a balance of €5.8 million
For this contract, which provides - in the event of commercial success of masitinib in neurology - for repayment of the aid provided by Bpifrance under the research project known as ROMANE, the restructuring terms are as follows:
- an 18-month capital grace period from June 30, 2026 to December 31, 2027;
- an extension of the fixed repayment period from 10 years to 15 years from the date of the last disbursement of this advance;
- an extension of the supplementary repayment period from 15 years to 20 years;
- a modification of the annual instalment amounts.
- EIB Covid Credit
- A 12-month deferral of the final maturity date of the EIB Credit (with a 100bps increase in the interest rate), such that the final maturity date of the first tranche is deferred from December 21, 2028 to December 21, 2029 and the final maturity date of the second tranche is deferred from January 28, 2028 to January 30, 2029.
In light of this agreement and its cash position, the Company is able to finance its activities beyond the next 12 months.
Alain Moussy, Chairman and CEO of AB Science, comments: "The Agreement with our financial partners is very good news for AB Science. Having secured insurance for its Phase III clinical trial, AB Science is honored to receive the confidence of its banking partners, who are extending the maturity of their loans. AB Science will now focus on its Phase III study in amyotrophic lateral sclerosis and its AB8939 program".
The Company also indicates that it is postponing the publication of its annual report to no later than May 13, 2026.
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 is key in signalling pathways within cells. Our programs target only diseases with high unmet medical needs, which are often lethal with short-term survival or rare or refractory to previous lines 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 being developed for human medicine in oncology, neurological diseases, inflammatory diseases, and viral diseases. The company is headquartered in Paris, France and is 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, 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 uncertainties related to the 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 the 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 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
