Pixium Vision - Pixium to raise up to €10m to advance Prima

Pixium Vision announced on 6 November a financing agreement with a US-based investor, European Select Growth Opportunities Fund (ESGO) for the issue of up to €10m in 12-month bonds repayable in cash and/or new shares, over a period of up to 30 months. The first bond tranche (€1.25m) was issued on 6 November and Pixium expects this, along with cash on hand (€7.0m at Q319), to fund the firm’s operations through H120. We anticipate that a full €10m bond exercise could fund Pixium’s operations into 2021, well after the expected start of a pivotal Prima trial.