Cellectis, a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies, entered into the warrant agreement and finalized the related ancillary documents required under the credit facility with the European Investment Bank (EIB) for up to €40 million ($43.7 million). The company also announced the drawdown of the first tranche of €20 million ($21.8 million) under the finance contract, expected to be disbursed by the EIB in early April 2023. The company plans to use the proceeds of tranche A towards the development of its pipeline of allogeneic CAR T-cell product candidates: UCART22, UCART20x22, UCART123 and UCARTCS1.
The disbursement of Tranche A is subject to, among other conditions, the issuance of a specified number of warrants to the benefit of EIB and the completion of certain clinical development milestone by a Cellectis’ licensee. In particular, on March 28, the company issued 2,799,188 Tranche A Warrants to EIB, in accordance with the terms of the 11th resolution of the shareholders’ meeting held on June 28, 2022 and articles L. 228-91 and seq. of the French Commercial Code, representing 5% of the company’s outstanding share capital as at their issuance date.
