Cellnovo Announces Arrangement of an Equity Line to Support its Development

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Cellnovo Group (“Cellnovo” CLNV:EN Paris, or “the Company”), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, announces today that it has arranged an equity line with Kepler Cheuvreux.

The Company’s Chief Executive Officer, acting pursuant to the powers delegated to her by the Board of Directors and in accordance with the Fourteenth Resolution of the AGM on June 24, 2016, decided on March 17, 2017 to go ahead with this transaction.

Drawing on the full amount of this equity line would enable the Company to raise €8.9 million in financing using the current share price(1) as guidance. This will top up the €10.7 million in cash Cellnovo held at December 31, 2016. The Company estimates its cash requirement over the next 12 months to the end of the first quarter of 2018 at between €6 million and €7 million. To cover this financing requirement over the next 12 months and possibly beyond, Cellnovo is currently negotiating around €10 million in debt financing, with an initial payment of €5 million to €6 million. The details are presented more extensively in the prospectus approved by the AMF (visa no. 17-098 dated March 17, 2017).