OncoZenge enters into a loan agreement of SEK 2 million with Linc AB
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
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OncoZenge AB (publ) ("OncoZenge" or “the Company") has today entered into an agreement regarding bridge financing of SEK 2 million through a loan provided by one of the Company’s largest shareholders, Linc AB (“Linc”), in order to strengthen the Company’s short-term liquidity.
The loan has been entered into to strengthen the Company’s liquidity following the minor delay in the ongoing assessment of its European Clinical Trial Application (CTA) for the BupiZenge™ Phase III trial, ‘BEAM-Pain, as communicated by the Company on 19 May 2026. The financing is intended to avoid disruption to the ramp-up of the Phase III project, pending the milestone payment from the Company’s partner Molteni Farmaceutici (“Molteni”) and receipt of the fourth tranche under the investment agreement with Sichuan Yangtian Bio Pharmaceutical (the “Investor”) following CTA approval.
The loan bears interest at a rate of 1.00 per cent per month from the date of disbursement which shall be capitalised. A setup fee of SEK 50,000 applies to the loan. The loan shall be repaid upon receipt of the fourth tranche under the investment agreement with the above named Investor.
The Company’s Board of Directors has assessed that the loan is on market terms and has been entered into in order to provide short-term financing flexibility and strengthen the Company’s liquidity until the Company receives the expected milestone payment from Molteni and payment of the fourth tranche from the Investor.
The previous loan from Linc of SEK 5 million, which was announced on 22 January 2026, was repaid in full following the Company receiving the proceeds from the third tranche under the investment agreement with the Investor. Accordingly, the bridge loan financing does not increase the Company’s net outstanding bridge financing compared to the level previously communicated.
“We are grateful for the ongoing commitment and support by our shareholder Linc AB as we near resolution of our regulatory milestone and our impending goal of enrolling patients in our Phase III trial for BupiZenge”– Stian Kildal, CEO of OncoZenge.