Spexis is Granted Debt-Restructuring Moratorium – Biotech Investments

Ad hoc announcement pursuant to Art. 53 LR
 

Spexis is Granted Debt-Restructuring Moratorium

Allschwil, Switzerland, December 5, 2023

Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, today announced that it has been formally granted moratorium status (Nachlassstundung) by the Western District Court of the Canton Basel-Landschaft. This announcement follows the Company’s announcement of November 29^th indicating that a formal request for such status had been submitted.

The plan submitted to the court included a cost reduction, a restructuring of the debt with major secured and unsecured creditors (such as SPRIM Global Investments), a continuation of the COPILOT trial in case additional financing can be obtained and a sale of other assets. All of these initiatives are being implemented by Spexis.

The Company will issue further milestone announcements as parts of its moratorium plan are achieved.  

About Spexis

Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases and oncology. For further information please visit: www.spexisbio.com.

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Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of Spexis management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Spexis’ results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Spexis disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.