Cessatech secures DKK 5 million loan facility agreement to support the US launch of its lead program CT001
- Loan facility agreement with a group of investors from Investeringsselskabet MFO Private Equity A/S, which includes some existing shareholders.
- Loan facility agreement for up to DKK 5 million maturing at the latest on 31 Dec 2024
- Provides Cessatech financial flexibility and support to the planned US launch of CT001
On 17 August – Cessatech A/S (“Cessatech” or “the Company”) announces that the Company has entered into a loan facility agreement with a group of investors from Investeringsselskabet MFO Private Equity A/S. The loan agreement is to support the planned US launch of CT001 and provide the company with financial flexibility against the backdrop of the current challenging capital market environment. The loan terms have been agreed upon market terms. Any amounts drawn by the Company (including accrued interest) shall rank equal with the Company’s other creditors.
Jes Trygved, CEO Cessatech
“This loan facility gives us more financial flexibility during the next 18 months, as we ramp up efforts to launch CT001 in the important US market and where we expect to begin generating revenues already in 2024. Additionally, we are very pleased that the group of investors providing the loan facility includes some existing shareholders in the company, underlining their support and belief in Cessatech and our work to bring solutions to the unmet medical need of treating children who are experiencing acute pain”.
For more information about Cessatech, please contact:
Jes Trygved, CEO
Phone: +45 9387 2309
E-mail: jes.trygved@cessatech.com
www.cessatech.com
About Cessatech
Cessatech A/S is a Danish pharmaceutical company committed to developing and commercialising evidence-based and innovative medicines for children for the treatment of paediatric acute pain. Its lead asset (CT001) is an analgesic nasal spray for the treatment of acute and planned painful procedures in children. The advantages include needle-free administration, being easy to administer, a fast-acting therapeutic effect, and being medically approved for children. CT001 is at its pivotal stage of clinical development.