Néovacs: binding letter of intent to sell PXT3003 intellectual property, payment potentially exceeding €25M
The French biopharmaceutical company has accepted a binding letter of intent for the sale of part of its intellectual property, focused on the PXT3003 drug candidate intended to treat Charcot-Marie-Tooth disease type 1A.
A binding letter of intent potentially exceeding €25M
Néovacs announced on August 7, 2026 that it had received and accepted a binding letter of intent (LoI) concerning the acquisition of part of its intellectual property, for which payment could exceed €25M.
This LoI emanates from an American biopharmaceutical company specializing in the development of therapies in the field of neurological pathologies. It concerns intellectual property rights and scientific know-how surrounding PXT3003, a drug candidate under development for Charcot-Marie-Tooth disease type 1A (CMT1A), a rare and disabling hereditary peripheral neuropathy.
These rights, originally developed by Pharnext, were pledged and transferred to a fiduciary estate for the benefit of Néovacs, in accordance with the trust management agreement dated October 31, 2022. Beyond those held by Néovacs or by the trust, the LoI provides for the company to be assisted in the process of valorizing these assets, particularly in scientific and regulatory terms.
The LoI already requires Néovacs to transfer the intellectual property rights covered by the agreement, and the buyer to remunerate it over time for this transfer. A variable and staggered remuneration mechanism would be implemented, with payments based on the commercial valuation of the assets over the next seven years.
Capitalized remuneration prior to market launch
The mechanism provides for a period of cost recovery incurred by the partner until market launch, which Néovacs estimates at a minimum horizon of 1 to 2 years. During this period, remuneration due to the company will be capitalized but not paid.
The parties have agreed on an exclusivity period running until October 15, 2026 to finalize their agreement regarding the terms of support by Néovacs teams.
This offer comes as, as announced on January 14, 2026, Chinese laboratory Tasly, holder of exploitation rights for PXT3003 in China, filed a marketing authorization application (MAA) for the Chinese market. Néovacs had reminded on that occasion that a marketing authorization of PXT3003 in China could have an impact on the value of the assets held by the company.
Dilutive financing and risks for shareholders
Néovacs recalled having implemented financing in the form of OCEANE-BSA with Hanover Square Investments 1, which is not intended to remain a shareholder after conversion or exercise of these instruments, as well as financing in ORA transferred to a trust responsible for their equitization.
Shares resulting from the conversion or exercise of these securities are generally sold on the market at very short notice, which can create significant downward pressure on the share price. The company emphasizes that shareholders may suffer a loss of their invested capital due to a significant decrease in share value, as well as significant dilution related to the number of securities issued.
Néovacs indicates that this dilutive financing operation is not the first it has implemented and invites investors to exercise caution before making any investment decision.
