TBPMF - Tetra Bio-Pharma gets approval for C$4.5M loan from Québec authority

Tetra Bio-Pharma (OTCQB:TBPMF) announced the approval of a C$4.5M participative loan from the ministère de l'Économie et de l'Innovation under the BioMed Propulsion Program, managed by Investissement Québec. The company said the funding will support the development of ARDS-003 for acute respiratory distress syndrome whether or not it is caused by COVID-19; as well as in patients with Sepsis. This company noted that the transaction is conditional on the approval of all shareholders and will be subject to a vote at the General Meeting in May 2022 since it will require the transfer of its head office from Ontario to the province of Quebec and the approval of certain financial terms.

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Tetra Bio-Pharma gets approval for C$4.5M loan from Québec authority