Lille, France; Cambridge, M.BUT; June 24, 2021 – GENFIT (Nasdaq and Euronext: GNFT), a late-stage biopharmaceutical company dedicated to improving the lives of patients with metabolic and liver diseases, today announced the provision of a non-dilutive loan of € 11 million guaranteed by the French government (known as a government-guaranteed loan or Prêt Garanti par l’Etat In French).
The loan, provided in the context of the COVID-19 pandemic by a syndicate of French banks, is 90% guaranteed by the French government with an initial maturity of one year with a repayment option of up to six years.
Pascal Prigent, Executive Director of GENFIT, commented: “GENFIT thanks the French government for creature this funding mechanism as good as partner banks forsupported by BNP Paribas, Natixis, CIC Nord Ouest and Crédit du Nord. This loan contributes to strengthening our financial visibility and allowing us stay fully committed to execution of our strategy… I would also like to take this opportunity remind shareholders that we are considering to support them to meet quorum in extraordinary general meeting on June 30, 2021 – the purpose of which will be to allow GENFIT to have instruments to speed up the update tis he Company strategy… “
GENFIT is a late-stage biopharmaceutical company dedicated to improving the lives of patients with cholestatic and metabolic chronic liver disease. GENFIT is a pioneer in nuclear receptor drug discovery, with a rich history and strong scientific heritage spanning over two decades. GENFIT is currently participating in ELATIVE ™, a phase 3 clinical trial evaluating elafibranor in patients with primary biliary cholangitis (PBC). Elafibranor is an investigational compound that has not been tested or approved by any regulatory agency. As part of GENFIT’s comprehensive approach to the clinical management of patients with liver disease, the company is also developing NIS4®, a new blood-based non-invasive diagnostic technology that can facilitate the identification of at-risk patients with NASH. In January 2019, GENFIT signed a licensing agreement with Labcorp® to make NIS4® technology available for use in clinical research through its drug development subsidiary, Covance. In September 2020, GENFIT signed another licensing agreement with Labcorp to commercialize NIS4® in the US and Canada as a laboratory-developed test. Since April 2021, Labcorp has been selling NASHnext ™ based on NIS4® for clinical use. GENFIT also continues to explore the possibilities of obtaining an official marketing authorization. in vitro diagnostics (IVD) test supported by NIS4® technology. For more information, please visit: https://nis4.com… GENFIT has manufacturing facilities in Lille and Paris, France, and Cambridge, Massachusetts, USA. GENFIT is a publicly traded company listed on the Nasdaq Global Select Market and in sector B of the Euronext regulated market in Paris (Nasdaq and Euronext: GNFT). www.genfit.com
GENFIT FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements regarding GENFIT, including those defined in the Private Securities Litigation Reform Act of 1995, including statements of company financing. Use of certain words, including “consider”, “reflect”, “think”, “strive”, “expect”, “understand”, “should”, “strive”, “evaluate”, “believe”, “desire” … , “May”, “could”, “allow”, “seek”, “encourage” or “have confidence” or (as the case may be) negative forms of such terms or any other variant of such terms or other similar terms for them within the meaning is intended to indicate forward-looking statements. Although the Company believes that its forecasts are based on the reasonable expectations and assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, or forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties inherent in research and development, including in relation to safety, biomarkers, progression and results of ongoing and planned clinical trials, regulatory review and approval of its drug and candidates for diagnosis, exchange rate fluctuations and the continued ability of the Company to raise capital to finance its development, as well as those risks and uncertainties that were discussed or identified in the Company’s public documents in France. BUTutorité des MArchés Floafers, including those listed in Chapter 2 “Principal Risks and Uncertainties” of the 2020 Company’s Universal Registration Document, filed with AMF on April 23, 2021 under No. D.21-0350, which is available on the Company’s website (www.genfit.com ) and on the AMF website (www.amf-france.org), as well as in public documents and reports filed with the US Securities and Exchange Commission (“SEC”), including the Company’s 2020 Annual Report on Form 20-F filed with the SEC. 23 April 2021 In addition, even if the results, performance, financial condition and liquidity of the Company, as well as the development of the industry in which it operates, are consistent with such forward-looking statements, they may not reflect the results or developments. in future periods. These forward-looking statements are valid only as of the date of publication of this document. Except as otherwise provided by applicable law, the Company assumes no obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise.
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