DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company pioneering the study and exploitation of bacterial biodiversity to address the urgent global challenge of antimicrobial resistance, announces that it has today submitted a statement of cessation of payments (“expression the termination of payments“) and an application for receivership (“procedure from turn around judicial’) of the company at the Commercial Court of Montpellier.

The employee representatives were informed in advance.

The purpose of this procedure is to examine any solutions that could allow the company to continue its operations, maintain employment and pay its debts in the best possible conditions, as well as to start a process to attract investors as part of a reorganization plan underway of continuation or a sales plan.

The company will continue its current activities during the observation period.

The company will inform the financial markets about the decision of the commercial court of Montpellier.

Under these conditions, DEINOVE has asked Euronext to suspend the listing of its shares (ISIN: FR0010879056) on Euronext Growth from October 28th prior to the start of trading pending the publication of a press release and until further notice. Given the uncertainty about the outcome of the measures taken by the company, the suspension of the listing of the company’s shares (ISIN: FR0010879056) is maintained until further notice.

ABOUT DEINOVE

DEINOVE is a French biotechnology company pioneering the study of a new area of ??life that is 99.9% unexplored: “microbial dark matter”. By unveiling the metabolic potential of rare or as yet uncultivable bacteria, it addresses a global health and economic challenge: antimicrobial resistance.

The new therapies discovered and developed by DEINOVE target superbugs (microbes that have become resistant to one or more antimicrobial agents) that cause life-threatening infections…