Pestalozzi advises The European Investment Bank on a EUR 25 million venture debt transaction with GeNeuro
On March 7, 2023, it has been announced that the European Investment Bank (EIB) and GeNeuro SA (Euronext Paris: GNRO), a biopharmaceutical company developing novel treatments for neurodegenerative and autoimmune diseases (such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and the severe consequences of COVID-19 (PASC, post-COVID or Long-COVID), through its R&D subsidiary based in Lyon, GeNeuro Innovation SAS, entered into a financing agreement for a total amount of up to EUR 25 million. The credit facility is divided into three tranches of EUR 7 million, EUR 10 million and EUR 8 million respectively, whereby disbursement of each tranche is subject to fulfilment of certain conditions, amongst others, the grant of warrants to EIB. A warrant agreement has been concuded between GeNeuro SA and EIB, which complements the financing agreement.
Pestalozzi advised EIB on all aspects of Swiss law of this transaction, supporting Gide as lead counsel.