Dechert Advises Crossject on Capital Increase and Issuance of Warrants to Long-Standing Investors and New U.S. Investors

Dechert advised Crossject, a pharmaceutical company specializing in the development of drugs using its needle-free auto-injector ZENEO®, in connection with a capital increase reserved for a category of investors and the issuance of warrants for a total amount of €7.2 million.

Simultaneously, Crossject reached an agreement with Heights Capital Management to amend the terms and conditions of the existing convertible bonds, which includes issuing a second tranche of approximately 2.5 million euros and extending the maturity of the convertible bonds to December 28, 2027.

Vianney Toulouse, assisted by Mathilde Duchamp and Yona Elfassi, members of the corporate and M&A/life sciences team led by Alain Decombe, advised Crossject. Patrick Lyons (London) managed the American aspects of the transaction.

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Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our nearly 1,000 lawyers across 19 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.