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| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
2022-08-31 08:13:26
August 31, 2022: Biosergen AB ("Biosergen" or the "Company") announces that it has entered into a loan agreement of SEK 7 million (the "Loan"). The Loan will be used to continue the development of BSG005 in accordance with existing plans until the end of 2022. Longer term funding solutions will be evaluated and decided at a later moment.
- The Lender agrees to lend to the Company a maximum total principal amount of SEK 7,000,000 (seven million Swedish Kronor).
- The Company may draw down the Loan in whole or in part, and in one or more tranches until December 1, 2023 (the "Repayment Date").
- Prior to the Repayment Date, the Company has the right to request, and the Lender has the obligation to accept, a conversion of the whole or a part of the Loan, to shares or other financial instruments in the Company.
- The Loan will carry interest as from and excluding the drawdown date up to and including the Repayment Date or the relevant conversion date at a rate of 8 per cent per annum (the "Interest"). The Interest will be calculated on the basis of the actual number of days elapsed, divided by 360 days. The Interest shall not be compounded. The Interest accrued on any Loan amount repaid or converted shall be payable in cash on the Repayment Date or on the relevant conversion date.
Biosergen's CEO Peder M. Andersen comments:
"Biosergen is at an exciting stage. We are on a good track with our clinical phase 1 trial with positive data. We are planning new phase 2 trials and in parallel optimizing manufacturing. With this loan we are able to continue development and not lose pace."