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(Boursier.com) — Median Technologies announces that it has received agreement from the European Investment Bank for the drawing of the last tranche of the loan granted on December 18, 2019 and renegotiated at the end of 2022.
The funds of 8.5 million euros corresponding to the last tranche will be released at the beginning of January 2024.
This financing has a maturity of 5 years, and bears interest at 5% capitalized. Median also issued 300,000 BSAs to the EIB, at an exercise price of 4.465 euros, with an expiry date in 2035.
“Tranche B of EIB financing in the amount of €8.5 million will allow us to continue our investment plan for eyonis and its early cancer diagnosis programs. Combined with previous financing gathered in 2023, this operation strengthens our financial visibility and positions our cash flow horizon for the first half of 2025″, underlines Fredrik Brag, Managing Director and founder of Median.
“Median Technologies is a global leader in the development of AI-based medical imaging solutions. These solutions are revolutionizing the diagnosis, treatment and survival of patients as well as the development of new therapies against cancer. The whole world is talking daily of the impact of AI, often with fear, while, in our sector, AI will have a colossal impact in saving the lives of patients. In 2023, Median continued the development of its solutions in the taking in charge of patients and for the development of drugs, initiatives which will continue to fuel our news in the first half of 2024, and beyond”, he adds.
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