Adocia jumped more than 18% on Wednesday's trading on the Paris Bourse, after successfully refinancing itself and paying off its debt through a series of transactions.

The biotech company reports that it has closed a €10 million financing package, consisting of €5 million via the issue of new shares reserved in particular for Bpifrance and Gérard Soula, one of the company's founders.

The remaining five million euros came from the issue of convertible bonds to European investors, including Vester Finance

Taking into account the receipt of the 10 million euros linked to the signature of the exclusivity agreement with Sanofi, Adocia now claims to have almost 20 million euros at its disposal, which will enable it to implement its development plan.

The biotech explains that it intends to focus its financial efforts on its two priority projects, namely M1Pram (treatment of obesity) and AdoShell (an immunoprotective synthetic biomaterial for cell transplantation).

Net financial debt stood at 19.6 million euros at the end of June 2023, compared with 24.1 million euros at December 31, 2022.

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