Nicox secures up to €6 million shareholder loan from Vester Finance
What's the deal? NicoxDealroom has a profile for this one. Try Dealroom →, a France-based ophthalmology company listed on Euronext Growth Paris, has signed a shareholder loan agreement with Vester FinanceDealroom has a profile for this one. Try Dealroom → for up to €6 million over three years.
The facility, announced on June 23, 2026, carries a 7.0% interest rate and lets Nicox draw advances of up to €0.5 million each, at its discretion. It has no obligation to draw any amount.
Loans, if drawn, are repayable in new shares or in cash. A full repayment in shares would represent up to 16% of the company's share capital.
Why now? Nicox says it is already financed beyond 2027, thanks to expected milestone payments and sales revenue from its lead drug, NCX 470.
The company is preparing a New Drug Application for NCX 470 in the United States, expected this summer, with a China submission to follow.
"This puts us in a unique position as we look at future strategic opportunities," said chief executive officer Gavin Spencer. The loan, he added, offers extra financing "on a non-dilutive or capped-dilution basis with a trusted partner."
What could go wrong? Repaying in shares carries dilution risk. New shares would be issued at the average market price before each issue, discounted by up to 6.5%.
If Nicox used the full facility, Vester would own 14.5% of issued share capital and 11.3% on a fully-diluted basis. No shareholder currently holds more than 5%.
Interest only applies if loans are repaid in cash, and cash repayment is possible 18 months after release, at the latest by the agreement's term.
The signal: The deal shows how cash-conscious biotechs are securing optional, flexible financing rather than raising upfront. For an early-stage company like Nicox, leaning on Vester Finance — a corporate backer and existing shareholder — keeps capital on standby as it pursues NCX 470's regulatory approvals, without committing to immediate dilution.
Read more: finanznachrichten.de
Image credit: AI-generated image (Gemini)
