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ProMetic Secures $10.0 Million Loan From Thomvest Seed Capital Inc.
Sep. 11, 2013 03:30AM PST
Company NewsProMetic Life Sciences Inc. announced today that it has secured financing from Thomvest Seed Capital Inc. the Toronto-based investment vehicle of Peter J. Thomson, consisting of a long-term loan in the principal amount of $10 million. ProMetic will use part of the proceeds for the commissioning of its GMP facility, which will enable the manufacturing of plasma-derived orphan drugs, scheduled to become operational in Q4 2013.
LAVAL, QUEBEC–(Marketwired – Sept. 11, 2013) – ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF), (“ProMetic”) announced today that it has secured financing from Thomvest Seed Capital Inc. (“Thomvest“), the Toronto-based investment vehicle of Peter J. Thomson, consisting of a long-term loan in the principal amount of $10 million. ProMetic will use part of the proceeds for the commissioning of its GMP facility, which will enable the manufacturing of plasma-derived orphan drugs, scheduled to become operational in Q4 2013.
Stefan Clulow, Managing Director at Thomvest is quoted saying
We see this promise in ProMetic’s PPPS™ technology and the orphan drug development program it enables. We are pleased to partner with ProMetic to pursue this opportunity and to participate in the potential value creation
Read the full press release here.