CROSSJECT Plans €5 Million Capital Increase to Boost EUA Approval Activities

CROSSJECT, a specialty pharmaceutical company based in Dijon, France, is set to initiate a capital increase in early June 2025. The amount aimed is approximately €5 million, potentially increasing to €5.8 million, subject to an extension clause. This increase in capital is designed to support commercial and production activities related to the anticipated EUA (Emergency Use Authorization) approval for ZEPIZURE®, a treatment for epilepsy crises.

Gemmes Venture, CROSSJECT's primary shareholder, plans to guarantee the capital increase up to 75% of the initial target. Heights Capital Management is also backing the offer. The financial maneuver seeks to bolster CROSSJECT's resources as it prepares to file the ZEPIZURE® dossier with the FDA.

The funds will be used primarily for the final development and production of ZEPIZURE®, and additionally to support the company's infrastructure in the U.S. and other ongoing projects. The company projects that the proceeds will extend its financial runway until the end of 2025.