TME Pharma extends financial runway to over 12 months
TME Pharma extends financial runway to over 12 months
Berlin, Germany, March 9, 2025, 08.00am CET – TME Pharma N.V. (Euronext Growth Paris: ALTME), a clinical-stage biotechnology company specializing in the development of novel therapies for cancer and eye diseases, is pleased to announce that certain lenders have accepted to extend the maturity of their loan by a further 12 months. TME Pharma now has cash runway into Q2 2027.
An agreement has been reached with certain lenders who participated in the May and August 2025 fundraisings (including board members and CEO) lending the Company at such time a total amount of approximately €2.06M, representing 93.2 percent of the total May and August 2025 loans. The maturity of these loan agreements has been extended by 12 months, and in consideration for the extension of the loan repayment, the term of the warrants has been extended until December 31, 2030. The lenders have received 30% extra warrants at the same strike price as the current warrants (€0.10 and €0.11 respectively for the May and August 2025 loans). These extra warrants are subject to a lock-up until January 1, 2029, unless the share price is €0.25 or higher. In case of full exercise of all the new warrants under the amended loan agreements, the Company could receive a total additional amount of approximately €678k in exchange for the issuance of 6,584,116 shares (which is approximately 7% dilution).
TME Pharma will redeem bonds early on March 11 to bondholders who did not wish to extend. The amount is €163,562.50 including interest.
Diede van den Ouden, CEO of TME Pharma, said: “I am delighted that TME Pharma and its shareholders have once again earned the trust of its investors. This demonstrates the lenders’ confidence in the company and its management to achieve success. Now that TME Pharma has secured further financial stability, management can accelerate its discussions with partners to optimize the value of NOX-A12 and NOX-36. I am convinced that with the extra time gained by extending the debt, we will be able to achieve our goals.”
A tracking table of the warrants will be maintained on the website, showing that only 3.130 new shares, resulting from the exercise of the former Z Warrant program of February 2024, have been issued since January 1, 2025. None of the warrants issued to the lenders under the May and August 2025 loans have currently been exercised. TME Pharma has not issued any further new shares in 2025 and 2026 and is fully focused on creating value for shareholders.
For more information, please contact:
TME Pharma N.V.
Diede van den Ouden, CEO
ir@tmepharma.com
About TME Pharma
TME Pharma is a clinical-stage biotechnology company specializing in the development of novel therapies for cancer and eye diseases. The Company’s lead compounds have been designed to act on the tumor microenvironment (TME) and the cancer immunity cycle by breaking tumor protection barriers against the immune system and blocking tumor repair. The Company’s two lead assets are:
- NOX-A12 (olaptesed pegol, an anti-CXCL12 L-RNA aptamer), which is being studied (GLORIA Phase 1/2 clinical trial) in newly-diagnosed brain cancer patients who will not benefit clinically from standard chemotherapy. The US FDA and the German BfArM have approved the design of a randomized Phase 2 trial in glioblastoma, and TME Pharma was awarded Fast Track Designation by the FDA for NOX-A12 in combination with radiotherapy and bevacizumab for use in the treatment of the aggressive adult brain cancer, glioblastoma. NOX-A12 in combination with radiotherapy had also previously received orphan drug designation (ODD) for glioblastoma in the United States and glioma in Europe.
- NOX-E36 (emapticap pegol, L-RNA aptamer inhibiting CCL2 and related chemokines), which is being evaluated in ophthalmic diseases with a high need for well-tolerated therapies with anti-fibrotic effect.
The Company, under the leadership of its new CEO, Diede van den Ouden, who joined in the June 2025, is currently undertaking a strategic restructuring with the goal of providing the financial resources to unlock the value of NOX-A12 and NOX-E36. These steps include:
- Raising funds from alternative sources (€1.7 million raised in May 2025, including €500,000 from the new CEO)
- Pursuing stable, cash-generating business opportunities to achieve positive operational cash flow for the Company
- Leveraging tax loss carry forwards
- Potentially gaining exposure to digital assets
Further information can be found at: www.tmepharma.com.
About the GLORIA Study
GLORIA (NCT04121455) is TME Pharma’s dose-escalation, Phase 1/2 study of NOX-A12 in combination with radiotherapy in first-line partially resected or unresected glioblastoma (brain cancer) patients with unmethylated MGMT promoter (resistant to standard chemotherapy). GLORIA further evaluates safety and efficacy of NOX-A12 in the expansion arm in which NOX-A12 is combined with radiotherapy and bevacizumab.
About the OPTIMUS Study
OPTIMUS (NCT04901741) is TME Pharma’s planned open-label two-arm Phase 2 study of NOX-A12 combined with pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in microsatellite-stable metastatic pancreatic cancer patients.
Disclaimer
Translations of any press release into languages other than English are intended solely as a convenience to the non-English-reading audience. The company has attempted to provide an accurate translation of the original text in English, but due to the nuances in translating into another language, slight differences may exist. This press release includes certain disclosures that contain "forward-looking statements.” Forward-looking statements are based on TME Pharma’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology drug development, including clinical trials and the timing of and TME Pharma’s ability to obtain regulatory approvals for NOX-A12 as well as any other drug candidates. Forward-looking statements contained in this announcement are made as of this date, and TME Pharma undertakes no duty to update such information except as required under applicable law.
Management will now iParallel to its core biotechnology activities, the company is exploring potential acquisitions and partnerships in stable, profitable businesses. These efforts are aimed at creating a fundamentally profitable corporate structure in which revenues from non-core activities will support and strengthen the further development of its patented drug candidates, which remain the company's flagship products, NOXA12 and NOX-E36.
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