Advicenne announced that it received the remaining tranche of a bond financing agreement with a fund managed by L1 Capital, providing €1 million in net cash proceeds. The financing strengthens the pharmaceutical company’s liquidity position and extends its expected cash runway to 2028.
Advicenne had €1.55 million in cash as of June 30, 2026.
The company previously expected its financial runway to extend through the second quarter of 2027.
Advicenne said the improved outlook reflects both the additional financing and strong commercial performance across its product portfolio.
Sales of Likozam and Levidcen in France have contributed to the company’s operating performance, while Sibnayal has continued to generate sales across the markets where it is available.
The company also cited disciplined resource management as a factor supporting the longer financial runway.
Advicenne specializes in treatments for rare kidney diseases and nephrology.
Its lead product, Sibnayal, has received marketing authorization for distal renal tubular acidosis in the European Union, United Kingdom, Saudi Arabia, and United Arab Emirates.
The product is marketed in more than 25 countries across Europe.
Advicenne also has access to an additional €1.2 million financing option made available by longtime shareholder Cemag Invest, Europe Offering, and CEO Didier Laurens.
The company said this additional funding remains available if needed.
Advicenne noted that the bond financing structure could result in dilution for existing shareholders because the conversion price depends on the company’s share price.
The company was founded in 2007 and is listed on Euronext Growth Paris.
KEY QUOTES:
“This financing, provided for under the safeguard plan, enables us to secure our cash needs in a context of uncertainty in the financial markets. In parallel, the strong operational performance driven by sales of all our products, enables us to extend our financial visibility by at least six months, now to 2028.”
Didier Laurens, Chief Executive Officer of Advicenne
