Conversion of the receivership proceedings into judicial liquidation proceedings
CONVERSION OF THE RECEIVERSHIP PROCEEDINGS INTO JUDICIAL LIQUIDATION PROCEEDINGS
DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company, pioneer in the exploration and exploitation of bacterial biodiversity to address the urgent, global challenge of antibiotic resistance, announces that on January 23, 2023, the Montpellier Commercial Court rendered a judgment converting the receivership proceedings, initiated on November 7, 2022, into a judicial liquidation proceedings (“procédure de liquidation judiciaire”) and appointed Maître Christine Dauverchain as judicial liquidator (“liquidateur judiciaire”).
No offer was submitted before the deadline for submitting offers to the receiver, which had been set on January 9, 2023, at noon.
As a result, Deinove had asked Euronext to suspend the listing of its shares (FR0010879056) on Euronext Growth from January 11, 2023, pending the publication of a press release and until further notice.
The listing of Deinove shares (FR0010879056) will remain suspended until the end of the delisting procedure, which is expected to take place shortly after consultation with Euronext Paris.
If the judicial liquidation proceedings does not result in the distribution of a liquidation surplus to shareholders, Deinove will inform its shareholders that their shares are worthless.
DEINOVE is a French biotechnology company pioneering the exploration of a new domain of life, unexplored at 99.9%: the “microbial dark matter”. By revealing the metabolic potential of rare bacteria or still classified as uncultivable, it tackles a global health and economic challenge: antimicrobial resistance.
The new therapies discovered and developed by DEINOVE target superbugs (microbes that have become resistant to one or more antimicrobials) that cause life-threatening infections which are now spreading at high speed.
This breakthrough approach gave rise to one of the world’s first specialized micro-biotechnology platforms and a unique collection of nearly 10,000 rare strains and thousands of bacterial extracts. Today, DEINOVE is conducting several development programs, of which its first antibiotic candidate is currently evaluated in a Phase II clinical trial in severe Clostridioides difficile infection, one of the world’s first emergencies. The Company has also developed new bacterial micro-factories that address the other issue in the race against antimicrobial resistance: the industrial production of these rare and low concentrated compounds with often too complex chemical structures to be generated by chemical synthesis.
Located at the heart of the Euromedecine park in Montpellier, DEINOVE has been listed on EURONEXT GROWTH® (ALDEI – code ISIN FR0010879056) since 2010. The Company has 45 employees and relies on a network of world-class academic, technological, industrial and institutional partners.
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