(AOF) – The drawing of this last tranche of a total loan of 40 million euros signed with the EIB in November 2022 was conditional on the approval by the American FDA of Uzedy, obtained on April 28, 2023. European Investment Company has been a strategic partner that has stood by our side for many years,” said Jaime Arango, Chief Financial Officer of MedinCell. “Our available cash allows us to advance the development of our portfolio and our research and development activities”.
“In addition, we will now collect royalties on Uzedy’s sales. These could cover our operating expenses from 2025.”, he adds.
In parallel with the collection of this tranche of 10 million euros and in accordance with the terms of the credit agreement, MedinCell issued 313,607 share subscription warrants (BSA) for the benefit of the EIB.
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