Néovacs: Over €25 Million Expected for PXT3003, Paid in Installments
In a status update published on October 16, 2026, Néovacs indicated that payment related to the valuation of part of its intellectual property and know-how could exceed €25 million. However, the amounts due would be paid in a variable and staggered manner, following a phase during which they will be capitalized without being disbursed.
An American Letter of Intent Focused on the PXT3003 Candidate
As announced on August 7, the Suresnes-based biotech received and accepted a letter of intent from an American biopharmaceutical company specializing in neurological pathologies. The agreement covers intellectual property rights and scientific know-how surrounding PXT3003, a candidate drug developed for Charcot-Marie-Tooth disease type 1A (CMT1A), a rare hereditary peripheral neuropathy.
These rights, originally developed by Pharnext, had been pledged and transferred to a trust estate for the benefit of Néovacs, in accordance with the trust management agreement dated October 31, 2022. According to the press release, they have now been transferred to the partner, which has initiated analysis procedures.
A Payment Horizon Spanning Seven Years, Preceded by a Reconciliation Period
According to Néovacs, this step requires the buyer to remunerate it over time, according to a mechanism that the company describes as standard in the pharmaceutical industry. Variable and staggered remuneration would be implemented, with payments based on the commercial valuation of assets over the next seven years.
The arrangement provides for a reconciliation period of costs incurred by the partner until market launch, which the company estimates at a minimum horizon of one to two years. During this period, the remuneration owed to Néovacs will be capitalized but not paid.
Both parties continue to work on the terms of an accompaniment arrangement for Néovacs in the valuation of these assets, particularly on scientific and regulatory aspects. The company stated that it would inform the market of any significant progress in the framework of this agreement protocol.
Néovacs Recalls the Dilutive Nature of Its Financing
The press release recalls that Néovacs has implemented financing in the form of an OCEANE-BSA with Hanover Square Investments 1, which is not intended to remain a shareholder after conversion or exercise of the instruments. Financing through ORA has also been put in place; all of these securities were transferred to a trust, which also subscribed to OS.
According to the company, shares resulting from these conversions are generally sold on the market at very short notice, which can create a "strong downward pressure on the share price". In the case of the trust, sales follow the terms set by the trust agreement.
Néovacs indicates that shareholders may suffer a loss of their invested capital as well as significant dilution. It specifies that this dilutive financing operation is not the first one it has implemented.
