Mont-Saint-Guibert, Belgium, April 28, 2025, 6pm - BIOSENIC (Euronext Brussels and Paris: BIOS) announces its initiative to identify and pursue new strategic projects and partnerships in order to further develop its R&D and clinical activities. This move follows the company's recent debt restructuring.
On 10 June 2024, BioSenic finalised a restructuring plan postponing the debt maturity towards the creditors involved to June 2029. However, this restructuring plan did not allow BioSenic to reduce its indebtedness. The board of directors therefore invited the new management to renegotiate this plan with its main creditors.
Following these negotiations, as announced on 18 February 2025 (see here) and on 7 April 2025 (see here), two bond creditors and the EIB agreed to restructure their loans, including interest, resulting in a total debt of over EUR 18 million that will be restructured subject to approval by the Enterprise Court of Walloon Brabant, which will be requested as soon as possible, in accordance with articles XX.37 and XX.38 of the Belgian Code of economic law (the "Homologation").
BioSenic continues its discussions with other creditors in an attempt to reach similar agreements aimed at reducing its indebtedness.
Now that BioSenic was able to reduce its debt with its main creditors (subject to Homologation), it is able to focus on its further development. By seeking new projects and partnerships, BioSenic wants to leverage its clinical and regulatory expertise with focus on late stage development therapies that address unmet medical needs and improve patient outcomes. Discussions are ongoing with different partners and the Company will provide timely updates on any material developments as soon as confirmed.
For more information or to express interest, please contact investorrelations@biosenic.com
About BioSenicBioSenic is a biotechnology company specialising in the clinical development of therapies for autoimmune diseases.
BioSenic is a leading biotech company specializing in the development of clinical assets issued from its Medsenic's arsenic trioxide (ATO) platform. Key target indications for the autoimmune platform include graft-versus-host-disease (GvHD), systemic lupus erythematosus (SLE), and now systemic sclerosis (SSc).
Following the merger in October 2022, BioSenic combined the strategic positionings and strengths of Medsenic and Bone Therapeutics. The merger specifically enables Medsenic/Biosenic to develop an entirely new arsenal of various anti-inflammatory and anti-autoimmune formulations using the immunomodulatory properties of ATO/oral ATO (OATO). Now that Medsenic has declared itself in cessation of payment, Biosenic will focus on new potential partnerships and the possible monetisation of its other assets (ALLOB and JTA).
BioSenic is based in the Louvain-la-Neuve Science Park in Mont-Saint-Guibert, Belgium. Further information is available at https://http://www.biosenic.com.
About the main Medsenic/BioSenic technology platformThe ATO platform provides derived active products with immunomodulatory properties and fundamental effects on the activated cells of the immune system. One direct application is its use in onco-immunology to treat GvHD (Graft-versus-Host Disease) in its chronic, established stage. cGvHD is one of the most common and clinically significant complications affecting long-term survival of allogeneic hematopoietic stem cell transplantation (allo-HSCT), a curative treatment for patients with severe blood diseases, including cancers.
Medsenic has been successful in a phase 2 trial with its intravenous formulation, Arscimed®, which has orphan drug designation status by FDA and EMA. The company was heading towards an international phase 3 confirmatory study, with its new, IP-protected, OATO formulation. Another selected target is moderate-to-severe forms of systemic lupus erythematosus (SLE), using the same oral formulation. ATO has shown good safety and significant clinical efficacy on several affected organs (skin, mucosae, and the gastrointestinal tract). Systemic sclerosis is now full part of the clinical pipeline of Medsenic/BioSenic. This serious chronic disease badly affects skin, lungs, or vascularization, and has no current effective treatment. Preclinical studies on pertinent animal models are positive, giving good grounds to launch a phase 2 clinical protocol, using new immunomodulatory formulations of APIs recognized to be active on the immune system.
The company is currently focusing its present R&D and clinical activities on a selective, accelerated development of its autoimmune platform. However, Medsenic declared itself in cessation of payment on 18 February 2025.
For further information, please contact:
BioSenic SA
Finsys Management SRL, represented by its permanent representative Jean-Luc Vandebroek, managing director ad interim
investorrelations@biosenic.com
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