Published: 12. August, 2024
Cessatech extends its undrawn Loan Facility Agreement to DKK 10 million to support the…
Cessatech extends its undrawn Loan Facility Agreement to DKK 10 million to support the forthcoming US launch of its lead program CT001
- The Loan Facility Agreement with a group of investors from Investeringsselskabet MFO Private Equity A/S has been increased from DKK 5 million to DKK 10 million and the maturity extended until April 2026.
- The new loan facility agreement provides Cessatech increased financial flexibility and support for the upcoming US launch of CT001.
- To date Cessatech has not drawn on the facility and the Loan Facility Agreement can potentially be converted into shares on market conditions.
Jes Trygved, CEO Cessatech
“The extended loan facility gives us more financial flexibility during the next 18-24 months for the upcoming launch US launch and operations as we still expect to begin generating revenues in 2024. We are very pleased that the group of investors providing the loan facility supports Cessatech and our work to bring solutions to the unmet medical need of treating children who are experiencing acute pain. In addition, it is important to Cessatech that the Loan Facility Agreement may be converted into shares.”
