Biotechnology company TME Pharma N.V. (Euronext Growth Paris: ALTME) announced on Wednesday that it has secured EUR1.7m in proceeds from a new bond issuance, extending its financial runway to May 2026. The EUR2.05m nominal value bonds were issued at an 83% discount, repayable in cash within 12 months at 93.5% of face value.

Private, non-tradable warrants accompany the bonds, exercisable at EUR0.10 - representing a 38% premium to the 10-day volume weighted average price. Maturity for the warrants is 24 months from 28 May 2025. CEO-designate D.M. van den Ouden subscribed to 29% of the issuance, joined by two members of the supervisory board.

Funds will sustain operations while TME Pharma pursues industrial or financial partners to progress clinical assets NOX-A12 and NOX-E36. Recent cost reductions effective from 1 July 2025 support preservation of core programs and shareholder value.

Bondholders may convert debt into equity during future capital increases on equal terms to other investors, with conversion percentages ranging from 89% to 100% of the outstanding loan, depending on timing. Early cash repayments are permitted at percentages between 83.7% and 93.5% of nominal value.

Warrant terms include anti-dilution provisions, adjusting the conversion rate if future financings exceed EUR1.5m at a per-share price below EUR0.10.

All necessary corporate approvals were obtained, including shareholder authorization at the AGM on 27 June 2024. Share capital authorizations allow for substantial issuance flexibility.

Assuming full exercise of 17,056,000 private warrants by 27 May 2027, dilution would reach 15.33%, reducing a 1% stake as of 20 May 2025 to 0.85%. Warrants Z, expiring on 20 June 2025, remain unaffected.

TME Pharma is advancing novel cancer therapies targeting the tumor microenvironment, including lead candidate NOX-A12 in glioblastoma and metastatic pancreatic cancer and NOX-E36 for inflammatory and fibrotic diseases.