(News Bulletin 247) – The Lyon-based company has announced a licensing agreement with the Spanish group InsudPharma, which will notably trigger an initial payment of 2 million euros. By accounting for other flows to come soon, Theranexus has extended financial visibility until the end of March 2026.

Theranexus was moving on a narrow ridge line. The Lyon biopharmaceutical company specializing in the treatment of rare neurological diseases had reduced visibility. Its cash flow at the end of last September only allowed it to finance its activity until the end of the first quarter of 2025.

However, relief was observed this Wednesday on the market. The company announced that it had extended this financial horizon by one year, until the end of the first quarter of 2026. This allowed its action to jump, with Theranexus shares gaining 26.6% on the Paris Stock Exchange around 3:40 p.m.

This increase in the company’s financial visibility was made possible by the signing of a licensing agreement with Exeltis, a pharmaceutical group which belongs to the Spanish Insud Pharma.

>> Access our exclusive graphic analyses, and gain insight into the Trading Portfolio

An initial payment of 2 million euros

This license agreement relates to the Theranexus product “TX01”. “TX01 is a new formulation, developed by Theranexus, of an existing drug but not disclosed to date, (not created by Theranexus but free of rights, Editor’s note) and already registered to treat certain neurological diseases”, explains to News Bulletin 247 Mathieu Charvériat, general manager of Theranexus.

“This new formulation aims to specifically treat Gaucher and Niemann-Pick type C diseases. These two diseases have quite varied symptoms and can affect several organs, such as the brain. They result in a slow deterioration of this organism and lead to generally when the patient dies,” explains the manager.

This agreement will result in an initial payment of 2 million euros to Theranexus and also includes development and commercialization milestone payments. The company will also earn double-digit royalties on net sales made by Exeltis in the countries covered by this licensing agreement, namely the European Union, the United Kingdom, Latin America and certain countries in the Middle East.

Payment from Bpifrance to come

A marketing application for TX01 is planned before October 31, 2025. “The addressable market for TX01 is estimated at 200 million euros over a full year, with three-quarters on patients suffering from Neumann’s disease -Type C pick and the remaining quarter on Gaucher disease”, also indicates Mathieu Charvériat.

Immediately, in addition to the initial payment of 2 million euros, this agreement will also allow the group to receive, in the coming weeks, 1.2 million euros in subsidies from Bpifrance.

“Bpifrance had committed to paying 1.2 million euros as part of our NeuroLead and PickASO projects, but wished to condition this payment on an extension of the company’s financial horizon. Bpifrance and our other banking partners recently signed a banking protocol with us which would take effect on the day Theranexus enters into a substantial agreement with a partner. This is what is happening with the agreement with InsudPharma, which therefore makes it possible to trigger the. both the banking protocol and the payment of the amounts due by Bpifrance, which will strengthen our cash flow horizon in the first quarter of 2026″, explains Mathieu Charvériat.

This banking agreement also includes the reimbursement to Theranexus of 141,000 euros of payments that the company had already paid to its creditors.

The company has, in fact, obtained from its banking partners for the purposes of restructuring its financial debt. “The agreement concluded provides in particular for an exemption from repayment of the capital portion of its main loans until the end of March 2026, and a consecutive postponement of 21 months of the maturity date of said loans,” specifies Theranexus.