Pixium Vision announces the conversion of the safeguard proceedings into receivership

Pixium Vision announces the conversion of the safeguard proceedings into receivership

Paris, France, November 13, 2023 – 8:00 pm (CET ) – Pixium Vision SA (Euronext Growth Paris - FR001400JX97; Mnemo: ALPIX), a bioelectronics company developing innovative vision systems to enable patients who have lost their sight to live more independent lives, today announces the conversion of the safeguard proceedings (procédure de sauvegarde) which has been in place since October 9, 2023 into receivership (redressement judiciaire).

As announced on October 18, 2023, in the absence of a solution to strengthen its financial situation and secure its cash runway during the safeguard proceedings, Pixium together with the court-appointed administrators, filed a request with the Commercial Court of Paris for the conversion of the safeguard proceedings into receivership. This request was examined and approved by the Commercial Court of Paris at the hearing of November 13, 2023.

In this context, Pixium reiterates that a bidding process for the purpose of finding buyers to acquire the Company’s business has been published by the court-appointed administrators on October 20, 2023 and that the deadline for the submission of offers has been set to November 20, 2023 at 12:00 p.m. (noon).

Interested candidates are invited to contact the court-appointed administrators, SCP Abitbol & Rousselet, represented by Joanna Rousselet, and Selarl FHB, represented Hélène Bourbouloux.

Access to an electronic data room will be granted once the candidate has signed a confidentiality agreement and submitted a brief presentation of interest.

The Company draws investors’ attention to the possibility that, in the event of a court-order plan to sell off all or part of the Company’s assets, the price offered may not allow shareholders to be reimbursed in full or in part.

The market will be regularly informed on the progress of the procedure and, more generally, on the financial situation of Pixium.

About Pixium Vision

Pixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The Company is EN ISO 13485 certified and qualifies as "Entreprise Innovante” by Bpifrance.

For more information: http://www.pixium-vision.com/fr

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Contacts

Attachment

• Pixium - PR conversion receivership - draft 12.11.23