Newron Pharmaceuticals S.p.A. Announces Amended Repayment Agreement with European Investment Bank

Newron Pharmaceuticals S.p.A., a biopharmaceutical company specializing in the development of treatments for the central and peripheral nervous system (CNS), has announced a significant amendment to its 2018 financing agreement with the European Investment Bank (EIB). Under the new terms, repayment dates for the first three tranches of the loan will be extended until the end of 2025 and into 2026. This adjustment aims to coincide with potential milestones in the company's product pipeline. Furthermore, the amendment introduces performance-based remuneration for the EIB.

Originally set for repayment from June 2024 to April 2025, the extended dates for the loan's first three tranches are now November 25, 2025, April 2026, and June 2026, respectively. The dates for the remaining tranches are unchanged. Newron will commence interest payments on these amended tranches as outlined in the agreement. The detailed terms of this amended agreement build upon the foundation laid out in Newron's 2018 loan agreement with the EIB, further insights into which are available in the company's 2022 Annual Report.

Newron's CFO, Roberto Galli, expressed gratitude towards the EIB for their support. He emphasized the alignment of the company's financial obligations with the anticipated timetable of key development milestones. Highlighted within Newron's pipeline is evenamide, a groundbreaking drug candidate aimed at treating resistant forms of schizophrenia, which is nearing the final stages of clinical development.