Crossject, the manufacturer of needle-free self-injection systems, announced on Monday that it had strengthened its financial structure, in line with its business plan, in order to support the acceleration of its development.

Following the success of its capital increase of nearly 4.1 million euros, the company said that it had concluded a combined non-dilutive financial transaction of 14 million euros.

This operation brings together various loans granted by the company's historical banks (Caisse d'Epargne and BNP), as well as Société Générale and BPI, with amortization periods ranging from five to 10 years, of which almost 85% can be drawn down immediately.

For Patrick Alexandre, the company's Chairman of the Management Board, the transaction will provide Crossject with new resources to carry out its roadmap, and in particular to support the ramp-up linked to its agreement with Barda, the research and development (R&D) agency of the US Department of Health.

The total value of this contract - if all options were to be exercised - could amount to $155 million, or more than 20 times the company's current annual sales.

On the Paris Bourse, the stock gained more than 5% on Monday after this announcement, bringing its gains over the past year to 49%.

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