Issuance of a 4th tranche of €1.5 million of notes convertible into new shares

ISSUANCE OF A 4^th TRANCHE OF €1.5 MILLION
OF NOTES CONVERTIBLE INTO NEW SHARES

·DEINOVE immediately strengthens its cash position tofinance the ongoing clinical trial testing DNV3837 for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile

DEINOVE (Euronext Growth Paris: ALDEI), a French biotech company that pioneers the application of biodiversity from the natural environment to tackle the global challenge of antimicrobial resistance and the need for next-generation active ingredients for Health, announces today the issuance of a 4^th tranche of notes convertible into new shares (the "OCA") as part of the agreement entered into on July 9, 2019¹ with the European Select Growth Opportunities Fund (the "Investor") relating to a financing through the issuance of OCA for a maximum nominal amount of €15 million, with a 6.5% face discount upon conversion into shares, not bearing interest and with no stock subscription warrants attached, over a maximum period of 24 months.

This 4^th tranche is composed of 150 OCA with a nominal value of EUR 10,000 each, representing a total amount of EUR 1,500,000, fully subscribed by the Investor today, in accordance with the contract signed on July 9, 2019.

The characteristics of the OCA and their theoretical dilutive impact are detailed in the press release dated July 9, 2019. DEINOVE recalls that all of the 220 OCA issued under the first tranche and the 100 OCA issued under the second tranche have been converted to date. Concerning the 150 OCA issued under the third tranche, 3 have not yet been converted.

The objective of this issue for DEINOVE is to continue the Phase II clinical trial in the United States testing DNV3837, its most advanced antibiotic candidate for the treatment of severe gastrointestinal infections caused by Clostridiodes difficile.

It is further recalled that DEINOVE and the Investor entered on April 2, 2020 into an amendment to the contract concluded on July 9, 2019².

ABOUT DEINOVE

DEINOVE is a French biotech company pioneer in the exploration and exploitation of biodiversity from the natural environment to tackle the global challenge of antimicrobial resistance and the need for next-generation active ingredients for Health.

The Company has built a unique collection of over 10,000 bacterial strains and has developed a fully integrated technological platform that brings together the best of biological culture, synthetic biology and micro-biotechnology.

Today, DEINOVE has several development programs underway, including the antibiotic candidate   DNV3837, in a Phase II clinical trial in severe gastrointestinal infections with Clostridioides difficile, a real therapeutic challenge. Through its other program AGIR (Antibiotics against Resistant Infectious Germs), supported by Bpifrance, it is also continuing its exploration of biodiversity to supply its portfolio with new molecules. It relies on its own biodiversity and on the one entrusted to it by other specialists in the field.

DEINOVE has also developed and brought to market four particularly innovative active ingredients: two products produced by Deinococcus geothermalis (phytoene and neurosporene), as well as two cell extracts developed in collaboration.

DEINOVE, located in the Euromédecine science park in Montpellier, employs 56 people, mainly researchers, engineers and technicians, and has filed over 350 patent applications internationally. It is listed on EURONEXT GROWTH® (ALDEI – code ISIN FR0010879056).

CONTACTS

¹ Press release dated July 9, 2019 available on the Company's website (http://www.deinove.com/en/news/all-press-releases/issuance-notes-convertible-new-shares-maximum-amount-eu15m-issuance-first-eu22-million-tranche)

² Press release dated April 3, 2020 available on the Company's website
(http://www.deinove.com/en/news/all-press-releases/issuance-2nd-tranch-eu1-million-notes-convertible-new-shares)

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