Scandinavian ChemoTech strengthens its working capital through loans of SEK 10 million
The Company has today entered into an agreement to strengthen its working capital by raising a loan from two privately owned companies of a maximum of SEK 10 million. A loan that creates the conditions for the increased market activity and to continue to drive clinical development.
The agreement signed today strengthens the Company's finances after previous loans from Erik Penser Bank and an external financier of SEK 5.5 million were repaid during the first quarter of the year. This new credit, which extends to the end of 2021, will lift the Company's financial position and contribute to the expansive development that the Company plans to undergo.
The loan is raised on market terms.
“It feels good to find such a flexible solution that creates an expanded space for the Company's development. In the current times it feels safe to have a financial buffer, which this agreement now provides us with. " says Mohan Frick, CEO
For more information, please contact:
Mohan Frick, CEO
+46 (0)10-218 93 00
Certified Adviser: Erik Penser Bank, Tel: Corporate Finance AB, Tel: +46 8-463 80 00,
E-mail: certifiedadviser@penser.se
This information is such information which Scandinavian ChemoTech AB (publ) are obligated to make public according to EU’s market abuse regulation. The information was submitted by the agency of above stated contact person, to be made public on Friday 30th of April 2021 at 11.15 (CET).
Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Erik Penser Bank is the company's Certified Adviser. Read more at: www.chemotech.se.