Inhalation Sciences AB secures long-term financing of operations
(Stockholm, Sweden, 24 May 2022) Inhalation Sciences AB has received a credit line from a consortium of lenders of up to SEK 10 million, giving the company increased scope to finance its operations and growth over the next 12-14 months.
The company's chairman of the board, Daniel Spasic, is among the lenders through his American company S-Growth Capital LLC, with a loan of SEK 1 million.
The company estimates that the credit line, together with self-generated funds, will be to sufficient to finance ISAB in line with its growth strategy for the coming 12-14 months.
Daniel Spasic, Chairman of the Board: “We are confident about the company’s future prospects and strongly support the current growth strategy we have in place. Continuing to support the financing of ISAB, and thereby creating longer-term resilience and an improved outlook for delivering the strategy plan, was an obvious option for the lenders. Given the current challenges on the equity markets, issuing new shares was not a favorable option for either the shareholders or the company. The new credit line gives the company and its shareholders the greatest possible opportunity for creating future value over time.”
Manoush Masarrat, CEO: “With this credit line, we have secured the company's operations for at least one year. This will help us continue with our strategic focus and expansion plans. Having access to loyal investors and the Chairman’s own participation in this credit framework feels reassuring and we can now focus entirely on our operational activities.”
For more information about Inhalation Sciences, please contact:
Manoush Masarrat, CEO
Mobile: +46 (0)73 628 9153
About Inhalation Sciences Sweden AB (publ)
Inhalation Sciences Sweden AB (publ) develops and commercializes world-leading instruments and services for research into inhalation. The company’s patented lab instruments PreciseInhale® and DissolvIt® enable researchers in the pharma industry to make drug pipeline decisions at an early stage, saving time and resources for R&D departments, and enables researchers in academic institutions to define how aerosols and small particles impact our lungs, and so our health, when being inhaled.
The information above was provided by Inhalation Sciences Sweden AB (publ) through the above contact person, for publication on May 24, 2022.