Sirona Biochem announced its French subsidiary TFChem received the final tranche of 1.2 million from a French public investment bank.
Sirona Biochem (TSXV:SBM) announced its French subsidiary TFChem received the final tranche of 1.2 million from a French public investment bank.
As quoted in the press release:
The final loan tranche, totaling CDN$487,000, will be used to advance the organization’s anti-aging project.
Repayment of the loan will be made in installments, beginning in Q3 2018 with the majority being paid after 2020. The company expects to be well into substantial milestone and royalty payments before any repayment of the loan begins.
“The final loan tranche will be used to further the studies for anti-aging activity and mechanism of action of the glycoprotein library compounds,” reports Dr. Howard Verrico, CEO and Chairman of Sirona Biochem, “We would like to extend our gratitude to Bpifrance and the district of Haute Normandie.”