YNIOS Pharma 3A
€68,500
total amount raised in round
- Backed by over 50 investors
- Eligible for a tax reduction
This campaign has been closed
Type 1 – Project risk
1. Risk associated with the correctness of forecasts
Risk: The YNIOS PHARMA team might make incorrect forecasts.
Consequence: Incorrect targets could lead to a lower valuation in the event of a possible exit because the business plan could not be executed as planned. In that case, there could be lower or even non-existent returns. In the worst case, there could even be a liquidation and bankruptcy of YNIOS PHARMA, with partial or complete loss of the invested capital.
Note: As the inflammatory process of Septic Shock is found in multiple indications (AIS, MI, etc.), the potential of this market is significant. According to a report published by Precedence Research, the market for the treatment of Choc Septique is set to grow from USD 10.49 billion to USD 21.36 billion between 2020 and 2030 (CAGR 8%). The critical care market, including septic shock, acute ischemic stroke and acute myocardial infarction, is estimated at 54 billion USD. Revenues from the global organ transplant rejection drugs market are expected to reach $7.4 billion by 2032, at a CAGR of 3.4% between 2023 and 2032.
Consequence: Incorrect targets could lead to a lower valuation in the event of a possible exit because the business plan could not be executed as planned. In that case, there could be lower or even non-existent returns. In the worst case, there could even be a liquidation and bankruptcy of YNIOS PHARMA, with partial or complete loss of the invested capital.
Note: As the inflammatory process of Septic Shock is found in multiple indications (AIS, MI, etc.), the potential of this market is significant. According to a report published by Precedence Research, the market for the treatment of Choc Septique is set to grow from USD 10.49 billion to USD 21.36 billion between 2020 and 2030 (CAGR 8%). The critical care market, including septic shock, acute ischemic stroke and acute myocardial infarction, is estimated at 54 billion USD. Revenues from the global organ transplant rejection drugs market are expected to reach $7.4 billion by 2032, at a CAGR of 3.4% between 2023 and 2032.
2. Risk associated with the need for new financing
Risk: Given the stage of development that project owner is in, it is likely that there will be a need for new financing.
Consequence: On the one hand, there is the risk that the company will not find investors, which would lead to the dissolution or bankruptcy of the company, causing the investor to lose part or all of his investment. On the other hand, there is the possibility that the company will find new investors, which will lead to dilution, which will be even greater if there is a lower valuation than the one currently used.
Note: Investors will have the opportunity to invest in new rounds, at the then current investment conditions.
Consequence: On the one hand, there is the risk that the company will not find investors, which would lead to the dissolution or bankruptcy of the company, causing the investor to lose part or all of his investment. On the other hand, there is the possibility that the company will find new investors, which will lead to dilution, which will be even greater if there is a lower valuation than the one currently used.
Note: Investors will have the opportunity to invest in new rounds, at the then current investment conditions.
Type 2 – Sector risk
1. Risk associated with the studies to be carried out
Risk: YNIOS PHARMA is leading the development of a new treatment for septic shock and related indications such as ischemic stroke and myocardial infarction. To date, the company has successfully completed all regulatory phases, including in vitro and in vivo (small animal) studies. However, there is still a risk that the forthcoming study (in vivo on large animals) will not confirm the results obtained so far and will not be conclusive.
Risk: Another risk for the company concerns the study it is about to undertake on organ transplantation. This study will aim to demonstrate the efficacy of the company's molecule on transplanted kidneys, which account for the largest number of transplants and related activities. Here again, the study runs the risk of being inconclusive.
Consequence for both risks: The consequence of inconclusive studies would involve additional time and costs to repeat, modify or even cancel the studies altogether, necessitating a change in the company's strategic direction. This could lead to a lower valuation in the event of a possible exit because the business plan could not be executed as planned. In that case, there could be lower or even non-existent returns. In the worst case, there could even be a liquidation and bankruptcy of YNIOS PHARMA, with partial or complete loss of the invested capital.
Consequence for both risks: The consequence of inconclusive studies would involve additional time and costs to repeat, modify or even cancel the studies altogether, necessitating a change in the company's strategic direction. This could lead to a lower valuation in the event of a possible exit because the business plan could not be executed as planned. In that case, there could be lower or even non-existent returns. In the worst case, there could even be a liquidation and bankruptcy of YNIOS PHARMA, with partial or complete loss of the invested capital.
Note for both risks: The company is mitigating these risks of inconclusive studies by broadening the scope of these studies and multiplying the number of biomarkers related to septic shock, sedation and cell degeneration, as well as other related indications analyzed during these studies. This strategy will increase the likelihood of obtaining useful results from these studies and progressing towards useful medical treatments.
Type 3 - Risk of insolvency and bankruptcy of the project owner
Risk: The risk of insolvency means that YNIOS PHARMA does not have sufficient funds to meet its payment deadlines (cessation of payments). Consequence: If the company does not find alternative financing (shocked credit), it may go bankrupt. The insolvency or bankruptcy of YNIOS PHARMA may lead to lower or non-existent returns and in the worst case to a partial or total loss of the invested capital.
Type 4 - Risk of lower, delayed or no returns.
1. Risk associated with the lack of guarantees.
Risk: Neither the shares of YNIOS PHARMA nor the Participatory Notes of the YNIOS PHARMA 3A compartment of Spreds Finance provide guarantees of a return or repayment of the invested capital.
2. Risk associated with the lack of a fixed return.
Risk: Participatory Notes do not offer a fixed return. The return of the Participatory Notes depends solely on the performance of the Underlying Asset, namely the shares of YNIOS PHARMA.
Consequence for both risks: If the project owner's predictions do not come true (within the predetermined timing), there is a risk of lower or non- existent returns and, in the worst case, partial or complete loss of the invested capital.
Consequence for both risks: If the project owner's predictions do not come true (within the predetermined timing), there is a risk of lower or non- existent returns and, in the worst case, partial or complete loss of the invested capital.
Note for both risks: Investors in Participatory Notes bear the same economic risk as if they were investing directly as shareholders of YNIOS PHARMA.
Type 5 - Risk of failure of the financing vehicle
Risk: Although each Spreds Finance compartment is ‘bankruptcy remote’ (meaning that no other creditor can claim a right on or against this compartment) in relation to the others and in relation to the ‘general’ liabilities of Spreds Finance itself, as a result of (i) the terms and conditions of the Notes, (ii) the articles of association of Spreds Finance and (iii) Article 4 of the Law of 18 December 2016 on crowdfunding; there is a subsidiary risk of insolvency of Spreds Finance.
Consequence: Should such insolvency occur, Noteholders may be exposed to the risk of a significant delay in the recovery of their investment. Note: The probability of this risk occurring is extremely low given the structure and organization of Spreds Finance, in particular the compartmentalization mechanism and the "bankruptcy-remoteness" described above. Each participation taken or loan granted to a project owner is recorded in a separate compartment and is appropriately accounted for in the accounts, taking into account the fact that the accounts are kept by compartment. As a result of (i) the conditions attached to the issue of Participatory Notes, (ii) the articles of association of Spreds Finance and (iii) article 10 of the law regulating the recognition and delimitation of crowdfunding and containing various provisions relating to finance and notwithstanding articles 7 and 8 of the Mortgage Law of 16 December 1851, the assets of a particular compartment serve exclusively to guarantee the rights of investors with respect to this compartment.
Risk: Although each Spreds Finance compartment is ‘bankruptcy remote’ (meaning that no other creditor can claim a right on or against this compartment) in relation to the others and in relation to the ‘general’ liabilities of Spreds Finance itself, as a result of (i) the terms and conditions of the Notes, (ii) the articles of association of Spreds Finance and (iii) Article 4 of the Law of 18 December 2016 on crowdfunding; there is a subsidiary risk of insolvency of Spreds Finance.
Consequence: Should such insolvency occur, Noteholders may be exposed to the risk of a significant delay in the recovery of their investment. Note: The probability of this risk occurring is extremely low given the structure and organization of Spreds Finance, in particular the compartmentalization mechanism and the "bankruptcy-remoteness" described above. Each participation taken or loan granted to a project owner is recorded in a separate compartment and is appropriately accounted for in the accounts, taking into account the fact that the accounts are kept by compartment. As a result of (i) the conditions attached to the issue of Participatory Notes, (ii) the articles of association of Spreds Finance and (iii) article 10 of the law regulating the recognition and delimitation of crowdfunding and containing various provisions relating to finance and notwithstanding articles 7 and 8 of the Mortgage Law of 16 December 1851, the assets of a particular compartment serve exclusively to guarantee the rights of investors with respect to this compartment.
Type 6 - Risk of illiquidity of the investment
1. Risk associated with the absence of an organized exchange market for Participatory Notes
Risk: Neither the project owner nor Spreds Finance organizes an exchange market for Participatory Notes. It is thus up to the investor himself to find a buyer for his Participating Notes. Given the absence of an exchange market for Participatory Notes, there is no way to adequately establish a comparative pricing methodology for Participatory Notes.
Consequence: A holder of Participatory Notes may not be able to find a buyer for the Participatory Notes it wishes to sell (at the price at which it wishes to sell).
Consequence: A holder of Participatory Notes may not be able to find a buyer for the Participatory Notes it wishes to sell (at the price at which it wishes to sell).
Note: The intention is not to sell the Participatory Notes but to sell the Underlying Asset, often on the occasion of the sale of the Company itself.
2. Risk associated with the vote by the general meeting of holders of Participatory Notes to sell
Risk: Any decision by Spreds Finance to sell shares of YNIOS PHARMA is subject to the approval of the holders of Participatory Notes representing at least 75% of the outstanding Participatory Notes, unless Spreds Finance is required to sell them under a contractual or statutory provision.
Consequence: Investors thus bear the risk that the general meeting of the holders of Participatory Notes may refuse to approve the sale of the participation, in which case all investors are bound by this decision and thus must wait to obtain redemption of the Participatory Notes.
Consequence: Investors thus bear the risk that the general meeting of the holders of Participatory Notes may refuse to approve the sale of the participation, in which case all investors are bound by this decision and thus must wait to obtain redemption of the Participatory Notes.
3. Risk associated with an investment in a young company
Risk: Investing in shares of young companies entails the risk that a buyer for the shares will not be found, or not at a fair price yielding a market return, or that a buyer will not be found within a reasonable period of time.
Consequence: If no buyer is found for the holding, redemption of the Participatory Notes is not possible.
Note: Spreds Finance will make every effort within its powers to obtain the best possible price.
Consequence: If no buyer is found for the holding, redemption of the Participatory Notes is not possible.
Note: Spreds Finance will make every effort within its powers to obtain the best possible price.
Type 7 – Other risks
1. Risk associated with the absence of an analysis by Spreds Finance
Risk: Spreds Finance has not conducted an analysis of the proposed project or of the financial situation of the Company.
Consequence: Any investor considering subscribing to Participatory Notes should make its own analysis of YNIOS PHARMA's solvency, activity, financial situation and prospects.
Note: Any decision to invest in Participatory Notes should be based on a comprehensive analysis of the project and of this sheet of essential investment information. Spreds Finance's model does not provide for the presentation of analyzed projects to investors but allows investors to invest based on the information made available to them, after making their own analyses.
To the best of the project owner's knowledge, there are no other material risks associated with its activities.
Consequence: Any investor considering subscribing to Participatory Notes should make its own analysis of YNIOS PHARMA's solvency, activity, financial situation and prospects.
Note: Any decision to invest in Participatory Notes should be based on a comprehensive analysis of the project and of this sheet of essential investment information. Spreds Finance's model does not provide for the presentation of analyzed projects to investors but allows investors to invest based on the information made available to them, after making their own analyses.
To the best of the project owner's knowledge, there are no other material risks associated with its activities.