Deinove issues 3rd tranche of nearly $1.7M of notes convertible into new shares

June 21, 2020 |

In France, Deinove, a biotech company that uses a disruptive approach to develop innovative antibiotics and bio-based active ingredients for cosmetics, issued a 3rd tranche of notes convertible into new shares as part of the agreement reached on July 9, 2019 with the European Select Growth Opportunities Fund.

The objectives of this issue for DEINOVE are to (i) finance the need for working capital, (ii) continue the development and marketing of natural active ingredients for the cosmetic industry, (iii) continue the Phase II clinical trial in the United States testing DNV3837, its most advanced antibiotic candidate for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile and (iv) discover new antibiotic leads based on its integrated and automated, high content, screening platform.

Category: Fuels

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