- Pharnext ( OTC:PNEXF ) said it signed a €2.5M loan agreement with French biotech Néovacs.
- The loan will bear interest at 1% per month for a maximum duration of six months (until Feb. 21, 2023 at the latest).
- France-based Pharnext added that the execution of the Loan is part of ongoing discussions between the two companies to potentially enter into a broader financing agreement of Pharnext by Néovacs.
- If the companies reach such an agreement, the loan and the remuneration of the loan will be payable by way of a set off against financial instruments issued by Pharnext to Néovacs or one of its affiliates. If not, then loan will be reimbursed at the maturity date.
For further details see:
Pharnext to raise €2.5M loan from French biotech Néovacs