December 19, 2017
BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:
IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, announces that it has paid off the bond loan taken out with Kreos Capital IV (UK) Ltd. in 2013.
On July 19, 2013, IMPLANET had signed a venture loan agreement with Kreos Capital IV (UK) Ltd. for the underwriting of a €5 million bond loan. As well as the loan itself, the contract foresaw the pledging of the Company’s business and intellectual property (IP).
David Dieumegard, CFO of IMPLANET says: “We are satisfied that this loan has now been entirely repaid, allowing IMPLANET to obtain the lifting of the pledges, including on its IP. Therefore, the reimbursement (principal and interest) of this loan in 2017 representing €1.1 million, IMPLANET should reduce its cash burn by the same amount.”
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ® latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 48 staff and recorded 2016 sales of €7.8 million. For further information, please visit www.implanet.com.
Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
IMPLANET is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the BEOCABSA, OCA, BSA and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
Ludovic Lastennet, +33 (0)5 57 99 55 55
Julie Coulot, +33 (0)1 44 71 20 40
Nicolas Merigeau, +33 (0)1 44 71 94 98
Pascal Nigen, +1-917-385-2160