TME Pharma Postpones Debt to 2028 and Extends Financial Visibility
In a press release published on October 26, 2026, the biotechnology company listed on Euronext Growth Paris indicated that the postponement of its maturities, combined with two new bond loans, extends its financial visibility until the second quarter of 2028. Its Chief Executive Officer, Diede van den Ouden, himself subscribed to one of these loans and stated: "Since December 2024, we have managed to minimize dilution, which has allowed our market capitalization to recover."
Thirteen Months of Additional Extension on 2.4 Million Euros of Debt
TME Pharma obtained the agreement of all holders of its current debt, issued in May and August 2025 for a nominal amount of approximately 2.4 million euros. The maturity date moves from May 28, 2027 to June 30, 2028, representing a postponement of 13 months, under the same conditions for all creditors. Among them are the Chief Executive Officer as well as Maurizio PetitBon, Chairman of the Supervisory Board, and Lee Schalop, member of this board.
As part of this extension, four external debt holders will be repaid in cash for part of their receivable, for approximately 760,000 euros, at 97.7% of nominal value (early repayment percentage applicable contractually in October 2026). The Chief Executive Officer and members of the Supervisory Board receive no repayment. The extended debt is subsequently set at approximately 1.64 million euros, and at approximately 1.96 million euros at maturity, at which date it will be repaid in cash at 116.5% of its nominal value, unless early repayment or contribution to a capital increase occurs.
Holders who exercise the subscription warrants attached to the 2025 issuances by paying the cash price may require repayment of their debt up to 50% of the exercise price received. According to the company, this mechanism ensures both a cash inflow and a reduction of its debt. Since May 2025, 800,000 shares have been issued following the exercise of subscription warrants.
An Officer Obligation and a 500,000 Euro Loan from Hexagon
Diede van den Ouden subscribed to a new bond loan for a price of 250,000 euros, with a nominal value of 297,619.05 euros (issuance at 84% of par), repayable at 100% of nominal value on June 30, 2028. It bears no interest and is not accompanied by any subscription warrants or conversion rights.
The second financing, concluded with Hexagon Capital Fund, concerns 500,000 euros of bonds remunerated at 10% per annum, with a duration of 24 months and amortized monthly in cash, with structuring fees of 5% of the subscribed amount. The fund receives 2,000,000 subscription warrants exercisable at 0.15 euros for three years, representing approximately 2.1% of the current capital of 94,988,981 shares. In case of default only, the bonds could be converted into shares at 85% of the lowest of three weighted average prices selected over the preceding 20 trading sessions, a conversion which, according to the company, could result in significant dilution.
An additional envelope of 1 million euros remains available on the same terms at the discretion of TME Pharma, which states it does not plan to use it and intends to repay all its loans in cash. The company is also conducting "concrete discussions" with a view to a licensing agreement for NOX-A12, one of the objectives of which is to generate liquidity.
