OSE Immunotherapeutics enters a loan deal with EIB
France-based biotech OSE Immunotherapeutics (Euronext: OSE) today announced that the company has signed a loan agreement of up to 25 million euros ($30 million) with the European Investment Bank (EIB), with the news lifting the firm’s shares 7% in early trading.
The loan facility of up to 25 million euros is divided into three tranches including two tranches of 10 million euros each and a third tranche of 5 million euros.
The first 10 million euros tranche, unconditional and which OSE will request payment before the end of May 2021, will help expand the clinical development of Tedopi (OSE: 2101) in combination with a checkpoint inhibitor in additional cancer indications.
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