DEINOVE : Implementation of an amendment to the OC agreement concluded on September 10, 2022

DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company, pioneer in the exploration and exploitation of bacterial biodiversity to address the urgent, global challenge of antibiotic resistance, announces that an amendment (the "Amendment") to the agreement for the issue of notes convertible into new shares (the "OC") dated September 10, 2021 (the "Initial Agreement") has been entered into on August 2, 2022 with the European Select Growth Opportunities Fund (the "Investor").

Under the terms of the Amendment, the Investor waives, only for 3 new tranches, i.e. tranches 5, 6 and 7 of the Initial Agreement, the drawdown condition according to which, following the subscription of a tranche of OC at the request of the Company, the Investor must not hold more than 25% of the number of shares making up the share capital of DEINOVE, either directly or indirectly via the holding of shares and OC (the "Condition"), in order to continue the financing by way of the issuance of OC. This modification of the Condition is accompanied by an increase in the discount granted to the Investor upon conversion of the OC into shares, which is raised to 15% over the maximum term of the Initial Agreement.

As a reminder, the initial OC agreement concluded on September 10, 2021 has so far allowed the raising of €2m gross (€1,940,000 net), through the drawing down of four financing tranches, resulting in the creation of 2,428,809 shares to date (a holding of 1% of the share capital prior to the issue is equivalent to a holding of 0.92% after implementation of the initial OC agreement).

Objectives of the funds raised in the 3 new tranches

• finance the need for working capital, including the discovery of new antimicrobial leads based on the Company's integrated platform (65% of the proceeds);
• complete the Phase II clinical trial in the United States for DNV3837 in the treatment of severe gastrointestinal infections caused by Clostridioides difficile and enhance the value of this asset (35% of the proceeds).