Noxxon secures €17 million expansion of equity-linked facility with atlas to advance nox-a12 in glioblastoma and pancreatic cancer programs

• Substantial extension of financial runway visibility into December 2022
• Financing availability secured for initiation of NOX-A12 Phase 2/3 in Glioblastoma
and Phase 2 in Pancreatic Cancer, both on track to start in Q3 2022

Berlin, Germany, January 3, 2022, 06:00 p.m. CET - NOXXON Pharma N.V. (Euronext Growth Paris: ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), announced today an expansion of the agreement with Atlas Special Opportunities, LLC (ASO) for the additional provision of up to €17 million in equity-linked securities. Additionally, today, NOXXON issued 2,419 convertible bonds (including 44 convertible bonds issued in relation to the transaction fee) for a total of €2.419 million nominal value.

"This capital increase further strengthens NOXXON’s financial visibility and allows us to focus on achieving key operational goals including completion of the ongoing NOX-A12 GLORIA brain cancer Phase 1/2, advancement of the GLORIA expansion arms testing additional combinations and the launch of two new studies: a pivotal Phase 2/3 in glioblastoma and a Phase 2 in pancreatic cancer. Furthermore, the expanded capital facility, if fully utilized, provides financing capacity sufficient to fund operations for virtually all of 2022, according to the current business plan," said Bryan Jennings, CFO of NOXXON.

The flexible convertible bond agreement with ASO, initially disclosed on April 23, 2020, and amended on October 14, 2020, has now been further amended to expand its capacity. A total of 17 additional tranches of €1 million nominal value each shall be added to the convertible bond facility upon drawdown by NOXXON of the nominal amount currently available. The total remaining nominal capacity of the vehicle before this expansion and today’s issuance stands at €10.45 million. Availability under the amended facility, including the €17 million expansion, is €27.5 million prior to today’s issuance.

The full characteristics, terms and conditions of the financing may be found in the April 23, and October 14, 2020 press releases pertaining to the agreement and the dilutive potential of this latest amendment in the Annex to this press release. NOXXON maintains an updated summary table of issued convertible bonds in the Investors’ section of its website.

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