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BERGEN, Norway, (*100*). 25, 2022 /PRNewswire/ — BerGenBio ASA (OSE: BGBIO), a clinical-stage biopharmaceutical firm creating novel, selective AXL kinase inhibitors for extreme unmet medical wants, and Meteva AS, a 27.23% shareholder in BerGenBio, at this time introduced that they’ve entered right into a shareholder mortgage facility, pursuant to which Meteva will make obtainable to BerGenBio as much as NOK 100 million.
In addition to the money place of NOK 225 million on the finish of September 2022, this facility will allow BerGenBio to proceed its beforehand introduced targeted technique of advancing its lead compound bemcentinib in 1st line Non-Small Cell Lung Cancer (NSCLC) and hospitalized COVID-19 sufferers. The facility can be obtainable to be used till the sooner of an fairness challenge or March 31, 2024, and incorporates customary covenants and occasion of default provisions.
BerGenBio could, topic to sure situations, draw on the power from Q2 2023. The facility won’t be amortizing and any drawn quantities are to be repaid or transformed to fairness on or earlier than December 31, 2024. Amounts drawn beneath the power will carry curiosity at a fee of 6% each year and a dedication price of 1.5% each year on any undrawn a part of the power.
“We are truly grateful for the strong support of our largest shareholder, Meteva,” said Martin Olin, Chief Executive Officer of BerGenBio. “Their continued commitment to our mission will make a significant impact in developing bemcentinib to its fullest potential for patients suffering from NSCLC and severe COVID-19.”
As beforehand introduced, the Company will current its Q3 2022 report on 15 November 2022.
Contacts:
Martin Olin CEO, BerGenBio ASA
[email protected]
Rune Skeie, CFO, BerGenBio ASA
[email protected]
Investor Relations / Media Relations
Graham Morrell
[email protected]
+1 781 686 9600
About BerGenBio ASA
BerGenBio is a clinical-stage biopharmaceutical firm targeted on creating transformative medicine focusing on AXL as a possible cornerstone of remedy for aggressive illnesses, together with immune-evasive, remedy resistant cancers. The firm’s proprietary lead candidate, bemcentinib, is a doubtlessly first-in -class selective AXL inhibitor in a broad part II medical improvement programme targeted on mixture and single agent remedy in most cancers and COVID -19. A primary-in-class purposeful blocking anti-AXL antibody, tilvestamab, is present process part I medical testing.
BerGenBio relies in Bergen, Norway with a subsidiary in Oxford, UK. The firm is listed on the Oslo Stock Exchange (ticker: BGBIO). For extra data, go to www.bergenbio.com.
Forward wanting statements
This announcement could comprise forward-looking statements, which as such will not be historic info, however are primarily based upon numerous assumptions, a lot of that are primarily based, in flip, upon additional assumptions. These assumptions are inherently topic to vital recognized and unknown dangers, uncertainties, and different vital components. Such dangers, uncertainties, contingencies and different vital components may trigger precise occasions to vary materially from the expectations expressed or implied on this announcement by such forward-looking statements.
This data is taken into account to be inside data pursuant to the EU Market Abuse Regulation and is topic to the disclosure necessities pursuant to part 5-12 of the Norwegian Securities Trading Act.
The following information can be found for obtain:
SOURCE BerGenBio ASA
