SMAIO Obtains €2.5m in Non-dilutive Financing
June 29 2023 - 11:00AM
Business Wire
- €1.0m through a Bpifrance Innovation R&D loan with a
3-year grace period
- €1.5m through loans from BNP Paribas and Société
Générale
Regulatory News:
SMAIO (Software, Machines and
Adaptative Implants in Orthopaedics – Euronext
Growth Paris ISIN: FR0014005I80 / Ticker: ALSMA), a French player
specializing in transforming vertebral fusion with breakthrough
innovation, today announced that it has obtained €2.5m in
non-dilutive financing.
A €1.0m loan from Bpifrance to integrate artificial
intelligence into SMAIO's solutions
Bpifrance has granted SMAIO a €1.0m Innovation Research and
Development (R&D) loan with a 3-year grace period to help
finance a research programme aimed at automating its spinal
realignment surgical planning system using artificial intelligence
(AI).
The current challenge in surgical planning of vertebral
realignment is to harness the database of tens of thousands of
patient radiographs analysed with the KEOPS Balance Analyzer 3D
software, in order to simulate the perfect realignment for each
future patient, taking into account his or her morphological
characteristics. The development of AI algorithms aims to make this
process automatic, enabling the surgeon not only to choose the most
appropriate realignment, but also to predict the shape of the spine
after surgery with greater accuracy.
Two loans totalling €1.5m from its banking partners
The banking pool comprising BNP Paribas and Société Générale has
granted SMAIO two loans totalling €1.5m, which can be drawn down by
the end of September 2023. These loans have a maturity of 4
years.
Philippe ROUSSOULY, CEO of SMAIO, stated: "We are
delighted with these financings obtained on advantageous
conditions. They provide us the flexibility we need to pursue
SMAIO's commercial development in line with the roadmap presented
at the time of the IPO, while maintaining our meticulous investment
in R&D for innovative solutions incorporating artificial
intelligence".
About SMAIO
A precursor in the use of clinical data and imaging of the
spine, SMAIO designs global solutions for spine surgery
specialists. The Company has recognized expertise thanks to KEOPS,
its Big Data management software that has become a global reference
with more than 100,000 patient cases documented.
SMAIO offers spine surgeons a comprehensive platform, I-Kontrol,
incorporating planning, implants and related services, enabling
them to treat spinal pathologies in a safe, effective and lasting
way.
SMAIO is positioned at the forefront of innovation with the
ambition of providing surgeons with the first active robotic
solution enabling a high level of performance and repeatability to
be achieved.
Based in Lyon, France, SMAIO benefits from the skill and
expertise of more than 30 highly specialized staff.
For further information, please visit our website:
www.smaio.com
Next financial events:
- H1 2023 revenue: July 18, 2023 (after market)
- H1 2023 results: October 18, 2023 (after market)
Listing market: Euronext Growth Paris ISIN:
FR0014005I80 Mnemonic: ALSMA
Disclaimer
This press release contains non-factual elements, including, but
not limited to, certain statements regarding future results and
other future events. These statements are based on the current
vision and assumptions of the management of the Company. They
incorporate known and unknown risks and uncertainties that could
result in significant differences in results, profitability and
expected events. In addition, SMAIO, its shareholders and its
affiliates, directors, officers, counsels and employees have not
verified the accuracy of, and make no representations or warranties
about, statistical information or forecast information contained
within this news release and that originates or is derived from
third party sources or industry publications; these statistical
data and forecast information are only used in this press release
for information purposes. Finally, this press release may be
drafted in French and in English. In the event of differences
between the two texts, the French version will prevail.
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version on businesswire.com: https://www.businesswire.com/news/home/20230629290094/en/
SMAIO Philippe Roussouly Chief Executive Officer Renaut
Fritsch Chief Financial Officer investors@smaio.com
NewCap Dusan Oresansky/Quentin Massé Investor Relations
smaio@newcap.eu Tel.: +33 (0)1 44 71 94 92
NewCap Arthur Rouillé Media Relations smaio@newcap.eu
Tel.: +33 (0)1 44 71 94 98
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