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Ion Beam Applications S.A. (IBA). (6/30/14). "Press Release: IBA Closes EUR 20 Million New Long-term Financing Agreements". Louvain-la-Neuve.

Organisations Organisation Ion Beam Applications S.A. (IBA)
  Group IBA (BE) (Ion Beam Applications) (Group)
  Organisation 2 SRIW S.A. (Société Régionale d'Investissement de Wallonie)
  Group Wallonia (govt region)
Products Product ProteusONE system
  Product 2 business development (state/region)
Persons Person Bothy, Jean-Marc (IBA 201203 CFO)
  Person 2 Fennell, Amber (Bielecka, Amber) (Consilium Strategic Communications 201307– Co-founder)

IBA (Ion Beam Applications SA), the world's leading provider of proton therapy solutions for the treatment of cancer, today announces that it has put in place new financing arrangements which reinforce the Company's balance sheet. With strong support from two leading regional and federal investment companies in Belgium, SRIW (Société Régionale d'Investissement de Wallonie) and SFPI (Société Fédérale de Participations et d'Investissement), IBA has raised a total of EUR 20 million via a mixture of equity, quasi-equity and a new subordinated loan leading to an immediate EUR 10 million net cash inflow for the Company.

The Company has raised EUR 6 million through the issue of new equity for cash (EUR 5 million from SRIW and EUR 1 million from SFPI), a further EUR 5 million through a reverse convertible bond subscribed by SRIW (which gives IBA a put option to convert all or part of the bond into equity from 1 July 2014 until 31 December 2015) and, finally, EUR 9 million through a new 12 year subordinated loan provided by SFPI.

The proceeds will be used to repay an existing subordinated loan of EUR 10 million owed to SRIW and the balance for the general corporate purposes of IBA, including actions to support the development of the promising market for the Company's compact proton therapy offering Proteus®ONE, for example the launch of batch production to accelerate Proteus®ONE's production time from order to market.

Commenting on today's announcement, Jean-Marc Bothy, Chief Financial Officer of IBA, said: "These new financing arrangements place IBA on a firm financial footing and provide us with the equity base we require to secure the long-term future and development plans of the Company. We are grateful to the regional and federal investment companies in Belgium for the commitment they have demonstrated to IBA in this fundraise and we look forward to realising the potential of the Company in the fast-growing market for proton therapy."

Koen Van Loo, Managing Director of the SFPI added: "SFPI is pleased to contribute to the strengthening of one of the leading innovative companies in Belgium and is confident that these transactions will position IBA towards successful further development."

Olivier Vanderijst, President of the Executive Committee of SRIW commented: "SRIW is pleased to be a shareholder of a successful Walloon company and IBA is a global leader in its industry with strong growth potential. We have already provided a loan to IBA in the past and this additional step is a logical continuation of this relationship."

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About IBA

IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company, and the worldwide technology leader in the field of proton therapy, the most advanced form of radiotherapy available today.

The Company's primary expertise lies in the development of next generation proton therapy technologies that provide oncology care providers with premium quality services and equipment. IBA's proton therapy solutions are scalable and adaptable, offering universal full scale proton therapy centers as well as next generation compact, single room solutions. IBA also focuses on the development and supply of dosimetry solutions for Quality Assurance of medical equipment and increased patient safety as well as particle accelerators for medical and industrial applications.

Headquartered in Belgium and employing more than 1,000 people worldwide, IBA has installed systems across Europe and the US and is expanding into emerging markets. The Company is focused on building sustainable global growth for investors, providing solutions in the fight against cancer.

IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at:

* Proteus®ONE is the brand name of a new configuration of the Proteus®235, including some new developments subject to review by Competent Authorities (FDA, European Notified Bodies, et al.) before marketing.

For further information please contact:

Jean-Marc Bothy
Chief Financial Officer
+32 10 475 890

Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890

For media and investor enquiries:
Consilium Strategic Communications
Amber Bielecka, Mary-Jane Elliott, Matthew Neal, Jessica Hodgson, Ivar Milligan
+44 (0)20 3709 5700

Record changed: 2016-01-10


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