- For the second year in a row, DEINOVE has called on Société Générale Factoring (SGF) to pre-finance its R&D Tax Credit receivable.
- DEINOVE received €2.1m and thus strengthened its short-term cash position.
- The Company's operations continue in strict compliance with current health restrictions.
DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company that uses a disruptive approach to develop innovative antibiotics and bio-based active ingredients for cosmetics, announces that for the second year in a row, it has called on SGF for the pre-funding of its R&D Tax Credit receivable. As such, the Company received €2.1 million, i.e. 84% of the estimated receivable for 2019.
"We did not hesitate to ask SGF again for the pre-financing of our R&D Tax Credit receivable and we are extremely satisfied with it. Their system is simple, flexible, competitive and their teams are very responsive. This operation will strengthen our cash position in the short term, pending an improvement in general conditions. Our teams are continuing to carry out our R&D and commercial operations, within the limits imposed by the current pandemic health context" said Julien Coste, Chief Financial Officer of DEINOVE.