Geneva - GeNeuro (Euronext Paris: CH0308403085 - GNRO), a biopharmaceutical company developing novel treatments for neurodegenerative and autoimmune diseases such as multiple sclerosis (MS), amyotrophic lateral sclerosis (ALS) and the severe consequences of COVID-19, (PASC, post-COVID or Long-COVID), announced today the signature of a credit agreement for a total amount of up to EUR 25 million with the European Investment Bank ('EIB'), supported by the InvestEU programme.

Jesus Martin Garcia, CEO of GeNeuro, said: 'We thank the EIB for this support to GeNeuro's personalized medicine approach against neuropsychiatric syndromes that affect millions of patients who have had COVID. This support demonstrates the authorities' growing concern about this serious public health problem. The first EUR 7 million of this funding contributes to the development of the Phase 2 clinical study in Long-COVID, the first results of which should be available by the end of this year.'

Ambroise Fayolle, vice-president of the European investment bank, added: 'After having supported the prophylactic vaccines and treatments for acute cases, EIB, through the financing of GeNeuro, will foster the development of therapeutics for Long-COVID. GeNeuro is one of the very first biotechs beneficiaries of the European Union's new InvestEU programme, which provides the EIB with additional resources. This transaction complements the cycle of COVID-19 related syndromes tackled by innovative European biotech companies that benefited from EIB support through its venture debt programme'.

As a reminder, GeNeuro launched a Phase 2 trial at the end of 2022 that is evaluating the clinical efficacy of a six-month treatment with temelimab, the anti-W-ENV antibody developed by GeNeuro, on the improvement of cognitive impairment and/or fatigue in long-COVID patients who are positive for the presence of W-ENV protein in their blood. The W-ENV protein was observed in more than 25% of patients with persistent syndromes after having had COVID. This personalized medicine approach could, if the current clinical trial is successful, offer a therapeutic solution to millions of patients affected by longCOVID.

About GeNeuro

GeNeuro's mission is to harness the biology of HERVs to develop safe and effective treatments for patients by neutralizing the causative factors encoded by HERVs, which represent 8% of human DNA. GeNeuro is headquartered in Geneva, Switzerland, and has R&D facilities in Lyon, France. It has rights to 17 patent families protecting its technology.

Contact:

Arthur Rouille

Tel: +33 1 44 71 94 98

Email: geneuro@newcap.eu

About the European investment bank (EIB)

The European Investment Bank (EIB), established by the Treaty of Rome and founded in 1958, is the European Union's long-term financing institution and its shareholders are the 27 EU Member States. Its mission is to contribute through its lending to the integration, balanced development and economic and social cohesion of the EU. It borrows large volumes of funds on the capital markets and lends them on very favourable terms to support projects furthering EU policy objectives.

The EIB is working to put the EU at the forefront of the next wave of innovation, especially in the health sector. In response to the Covid-19 health crisis, the EIB has released more than EUR6 billion for investments in the health sector to support medical infrastructure, additional research activities or other financing related to vaccines and treatments. As a European bank supporting the climate, the EIB is one of the main fund providers in the green transition towards a more low-carbon and sustainable growth model.

Forward-Looking Statements

This document contains forward-looking statements and estimates about the financial condition, results of operations, strategy, plans and future performance of GeNeuro and the market in which it operates. Some of these statements, forecasts and estimates can be identified by the use of words such as, without limitation, 'believes', 'anticipates', 'expects', 'projects', 'plans', 'seeks', 'estimates', 'may', 'will' and 'continue' and other similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were believed to be reasonable when made but which may not prove to be correct. Actual events are difficult to predict and may depend on factors that are beyond the Company's control. Consequently, GeNeuro's actual results, financial condition, performance or achievements, or industry results, may differ materially from future results, performance or achievements as expressed or implied by such statements, forecasts and estimates. In addition, the forward-looking statements, forecasts and estimates speak only as of the date of this document. GeNeuro disclaims any obligation to update any such forward-looking statements, forecasts or estimates to reflect any change in the company's expectations with respect thereto, or any change in events, conditions or circumstances on which any such statements, forecasts or estimates are based, except as required by French law.

(C) 2023 Electronic News Publishing, source ENP Newswire