Valbonne, France, November 7, 2018, 5.45pm CEST
TxCell SA (FR0010127662 – TXCL), a developer of cellular immunotherapies based on regulatory T cells (Tregs) for inflammation, autoimmunity and transplantation, today reports its financial information for the 3rd quarter of 2018.
As a reminder, following the acquisition by Sangamo Therapeutics, Inc. of a majority stake of TxCell on October 1st, 2018, TxCell now operates as a subsidiary of Sangamo.
Cash position and revenue as of September 30, 2018
As of September 30, 2018, the cash and cash equivalents amounted to €6.6 million1, including:
- Drawing of 5 monthly tranches of the financing program of notes convertible into shares with share subscription warrants (OCABSA) for a nominal amount of €6.6 million. As of September 30, 2018, 56 notes remained unconverted, for a nominal amount of €5.6 million. On October 1st, 2018, TxCell terminated its OCABSA financing program in the context of the closing of the acquisition by Sangamo of a majority stake of TxCell: 28 notes were converted into shares sold to Sangamo as part of the majority stake and 28 were early redeemed for a total amount of €3.1 million.
- A €4.5 million loan granted to TxCell by Sangamo in September 2018 to cover for working capital expenses.
- Partial pre-financing of the 2018 Research Tax Credit for €1.0 million.
As expected, TxCell did not generate any revenue during the third quarter 2018.