Nicox SA, of Sophia Antipolis, France, said it entered a tranched bond financing of up to €20 million (US$22.8 million) with Kreos Capital, expected to extend its cash runway into 2021. Nicox expects to draw down the first tranche of €8 million by Feb. 1, with the option to draw up to €7 million on Aug. 1 and the remainder on Nov 1.