Neovacs raises 1.2 million euros in fundraising

Neovacs, a biotechnology company listed on Euronext Growth Paris, announces a €1.2 million fundraising. The financing is being made through the issuance of OCEANE-BSA bonds, subscribed by the European High Growth Opportunities Securitization Fund. The net proceeds of the transaction, €952,000, will be used to develop the Kinoïde® allergy research program and to strengthen investments in biotechnology and medical device projects.

This operation, prior to its final drawdown, had raised €26.1 million and created more than 24 billion shares. The dilutive impact is significant, with a shareholder's stake dropping from 1% to potentially 0.60%. This fundraising is part of a context of successive dilutive financing, without an AMF prospectus. The subscriber's strategy is to gradually sell the shares on the market.