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Deinove Announces the Opening of Receivership Proceedings

Deinove
Deinove

DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company, pioneer in the exploration and exploitation of bacterial biodiversity to address the urgent, global challenge of antibiotic resistance, announces that, following the Company's request (press release published on October 28, 2022), the Montpellier Commercial Court decided on November 7, 2022 to open receivership proceedings (“procédure de redressement judiciaire”) with an observation period (“période d'observation”) of 6 weeks from the opening judgment, during which time the Company will continue its current activities.

The Court also appointed the firm FHBX in the person of Maître Jean-François Blanc as receiver (“administrateur judiciaire”).

"With the cooperation of the receiver, we will examine all possible recovery solutions" says Alexis Rideau, Chief Executive Officer of DEINOVE.

The purpose of these proceedings is to evaluate all solutions that could enable the Company to continue its business activity, maintain employment, and pay off its liabilities under the best possible conditions, and also to initiate a process to attract investors within the framework of a recovery plan by way of continuation or a sale plan.

Regular press releases will be issued as the receivership proceedings progress.

The listing of the Company's shares (ISIN: FR0010879056), which was suspended on October 28, 2022, will resume on November 8, 2022.

ABOUT DEINOVE

DEINOVE is a French biotechnology company pioneering the exploration of a new domain of life, unexplored at 99.9%: the “microbial dark matter”. By revealing the metabolic potential of rare bacteria or still classified as uncultivable, it tackles a global health and economic challenge: antimicrobial resistance.

The new therapies discovered and developed by DEINOVE target superbugs (microbes that have become resistant to one or more antimicrobials) that cause life-threatening infections which are now spreading at high speed.

This breakthrough approach gave rise to one of the world’s first specialized micro-biotechnology platforms and a unique collection of nearly 10,000 rare strains and thousands of bacterial extracts. Today, DEINOVE is conducting several development programs, of which its first antibiotic candidate is currently evaluated in a Phase II clinical trial in severe Clostridioides difficile infection, one of the world’s first emergencies. The Company has also developed new bacterial micro-factories that address the other issue in the race against antimicrobial resistance: the industrial production of these rare and low concentrated compounds with often too complex chemical structures to be generated by chemical synthesis.

Located at the heart of the Euromedecine park in Montpellier, DEINOVE has been listed on EURONEXT GROWTH® (ALDEI – code ISIN FR0010879056) since 2010. The Company has 45 employees and relies on a network of world-class academic, technological, industrial and institutional partners.

CONTACTS

Investors

Mario Alcaraz

Chief Financial and Administrative Officer

+33 (0)4 48 19 01 00

ir@deinove.com

Media

ATCG Partners

+33 (0)9 81 87 46 72

communication@deinove.com

 

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