Oxurion NV announced it has avoided bankruptcy by entering into a binding letter of intent (LOI) with Atlas Special Opportunities LLC (Atlas) and an addendum to the existing subscription agreement for convertible bonds with Atlas. The Company appointed Pascal Ghoson as the new acting CEO/CFO, who is a former M&A specialist at Rothschild bank and CFO of various listed companies on Euronext. Tom Graney have stepped down from the Board as a condition of the LOI.