June 13, 2018

Verseon Corporation (“Verseon” or the “Company”)

Verseon closes US$ 22.7M mortgage for its headquarters in Fremont, CA

Fremont, Calif.—Verseon, a technology-based pharmaceutical company, today announces that its wholly owned subsidiary, VRH1 LLC, has closed a US$ 22.7 million financing (the “Financing”) with MCREIF SubREIT LLC (t/a Money 360) secured on the Company’s custom-built research, development, and operations facility in Fremont, California (the “Facility”). Of the total amount of the Financing, US$ 21.7 million has been received on closing, with an additional US$ 1 million available to be drawn at a future date for facilities-related expenses.

The Financing is an interest-only mortgage facility which carries an annual interest rate of 8.0 percent and is repayable after 24 months, with an option to extend for up to a further 12 months. The documentation entered into in relation to the Financing contains customary financial covenants and is based on a loan-to-value of approximately 50 percent. The proceeds of the Financing will be used for Verseon’s drug programs and operations.

The Financing leverages Verseon’s strong balance sheet and realizes a portion of the value created through the acquisition and development of the Company’s facility in Fremont to free up operating cash while allowing the Company to retain ownership of its assets.

About Verseon

Verseon Corporation (www.verseon.com, AIM: VSN) is a technology-based pharmaceutical company that pairs a proprietary, computational drug discovery platform with a comprehensive in-house chemistry and biology workflow to develop novel therapeutics that are unlikely to be found using conventional methods. The Company is applying its platform to a growing drug pipeline and currently has four active drug programs in the areas of anticoagulation, diabetic macular edema, hereditary angioedema, and oncology. The anticoagulation program is scheduled to enter phase I clinical trials in 2018.

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For further information please contact:

Verseon Corporation
Sebastian Wykeham / Tina Schlafly +1 (510) 225 9000
   
Cenkos (NOMAD and Joint Broker)  
Neil McDonald / Beth McKiernan +44 (0) 20 7397 8900
   
Cantor Fitzgerald Europe (Joint Broker)  
Marc Milmo / Phil Davies / Callum Butterfield +44 (0) 20 7894 7000
   

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Buchanan Communications Ltd (PR Advisors)
Henry Harrison-Topham / Jamie Hooper +44 (0) 20 7466 5000
   

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Vane Percy & Roberts
Simon Vane Percy +44 (0) 1737 821 890

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Verseon is committed to growth through innovation, building value for its shareholders while respecting its responsibilities as a good corporate citizen