Pestalozzi advises EIB on EUR 25m venture debt with GeNeuro
The European Investment Bank (EIB) and GeNeuro, a French biopharmaceutical company, has entered through its R&D subsidiary, GeNeuro Innovation, into a financing agreement for a total amount of up to EUR 25 million.
The credit facility is divided into three tranches of EUR 7 million, EUR 10 million and EUR 8 million respectively, whereby disbursement of each tranche is subject to fulfilment of certain conditions, amongst others, the grant of warrants to EIB. A warrant agreement has been concuded between GeNeuro and EIB, which complements the financing agreement.
GeNeuro developes novel treatments for neurodegenerative and autoimmune diseases (such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and the severe consequences of COVID-19, through its R&D subsidiary based in Lyon.
Pestalozzi has advised EIB on all aspects of Swiss law of this transaction, supporting Gide as lead counsel. The team included partner Franz Schubiger (corporate / m&a, life sciences, pictured left), associate Manu Ferro (financial services, capital markets, pictured right), Urs Kloeti (partner, financial services), partner Nils Harbeke (tax), associate Mercedes Chiabotti (corporate / m&a, capital markets).