Newron Receives Fourth Tranche from Financing Agreement with European Investment Bank (EIB)
Newron Pharmaceutical S.p.A. ("Newron") (SIX: NWRN, XETRA: NP5), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system, announces that it has received Tranche 4 under its financing agreement with the European Investment Bank (EIB) that was signed in October 2018 and comprises up to EUR 40 million, subject to achieving a set of agreed performance criteria. The EIB loan is backed by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. Tranche 4 consists of EUR 7.5 million and will primarily be used to support the Company's development programs in diseases of the central nervous system. The first three tranches of the loan totaling EUR 25 million were received by Newron in 2019 and 2020.
In connection with Tranche 4, EIB has received warrants entitling it to purchase up to 151,344 ordinary shares of Newron at an exercise price of EUR 9.25 per share.