- Voluntis obtains a state-guaranteed loan of €2 million from BNP Paribas.
- The new loan will contribute to the financing of the company’s growth initiatives in line with its strategic roadmap.
Voluntis (Euronext Paris, Ticker: VTX – ISIN: FR0004183960), a leader in digital therapeutics, announces today that it has obtained a state-guaranteed loan (Prêt Garanti par l’Etat, or PGE in France) from BNP Paribas.
This €2 million loan with an initial term of one year and is fully repayable on maturity[1]. Repayment of the amounts due may be deferred again, at the company’s option, until September 2026. The French State guarantees 90% of the amounts due.
This loan, which is non-dilutive to shareholders, carries a fixed annual interest rate of 0.25% for the first year[2].
“We are glad to announce this new loan from BNP Paribas. This non-dilutive cash injection further reinforces our financial situation and will contribute to our growth initiatives in the digital therapeutics space in line with our strategic roadmap.”
said Pierre Leurent, CEO of Voluntis.
Voluntis is also continuing to study various complementary options to cover its residual financing needs for the next 12 months, estimated at €2 million, including the signature of new partnerships that could generate short-term invoicing, additional financing to the PGE currently under discussion with Bpifrance as part of the new government support measures for companies during the Covid-19 crisis or the implementation of the OCEANE-BSA program granted by Alpha Blue Ocean in the first quarter of 2020.
About Voluntis
Voluntis creates digital therapeutics that empower people suffering from chronic conditions to self-manage their treatment every day, thus improving real-world outcomes. Combining mobile and web apps, and using clinical algorithms, Voluntis’ solutions deliver personalized recommendations to the patient and the care team so that they can, for example, adjust treatment dosage, manage side effects or monitor symptoms. Leveraging its Theraxium technology platform, Voluntis has designed and operates multiple digital therapeutics, especially in diabetes and oncology. Voluntis has long-standing partnerships with leading life science companies. Based out of Boston and Paris, France, Voluntis is a founding member of the Digital Therapeutics Alliance.
[1] Except in the usual cases of early repayment (non-payment, collective proceedings, non-compliance with one of the contractual obligations, etc.).
[2] This interest rate may change in subsequent years, should the Company decide to defer the repayment of the principal for the next five years, provided that in any event, it may not exceed a percentage corresponding to the bank’s refinancing cost at the date of the deferral plus the State guarantee commission.