Pixium Vision - ESGO financing deal shores up balance sheet

Pixium has entered into a convertible notes financing arrangement with US-based healthcare investor European Select Growth Opportunities Fund (ESGO), for up to €30m of notes redeemable in cash and/or in shares, without interest, for a period of up to 36 months. The first tranche of €5.5m (gross) in notes was received on 14 July, and Pixium expects the funding will enable it to maintain operations to the end of Q123. While the possibility of a conversion of note tranche(s) to shares would increase the number of shares outstanding, this arrangement provides funding stability, thus enabling Pixium to execute on its Prima development strategy, which we believe could reach EU market approval in H125.