IGEA to finalize on convertible bond facility arrangement
Hoofddorp, the Netherlands, 25 March 2021. IGEA Pharma N.V. (SIX: IGPH) today announced the entry into the final stage of negotiations with an institutional investor, following to a letter of intent (LOI) binding in terms, for a convertible bond facility arrangement over the next 24 months. The closing is expected to be within the first half of April 2021.
Under the terms of the LOI and subject to closing, the investor will commit for up to EUR 10 million over the next 24 months.
The funds are intended to be used to further finance the activities of the combined businesses (with Blue Sky Natural Resources LTD), which mainly includes the final set-up and launch of all production activities on cannabidiol (CBD), terpenes, policosanol, and other extracts from vegetable matrices in the Swiss industrial site within the second half of 2021 as well as the ongoing efforts to establish and strengthen both acceptance and market position for health prevention, pharma, nutraceutical and cosmeceutical solutions.
The Company furthermore intends to continue diversifying and optimizing its current finance structure with the aim of reducing risks and costs. Discussions are ongoing with further institutional investors potentially interested to support the Company in this strategy.
IGEA Pharma N.V. focuses on health-tech and med-tech products and devices. Health-tech products are exclusively preventative. IGEA commercializes an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and a natural dietary supplement branded ‘Alz1 Tab’ designed to reduce blood heavy metals content) and expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in 2021. Non-bound copper is an expected Alzheimer’s and diabetes type II associated biomarker. Controlling non-bound copper can contribute to reduce the risk of Alzheimer’s and diabetes type II. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARS-CoV-2 related antibodies. Med-tech products focuses on selected solutions and specialties, among which dry aerosol generators for air and inanimate environmental surfaces sanitization and sterilization and air purification devices.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
This document constitutes neither an offer to buy nor to subscribe securities and neither this document nor any part of it should form the basis of any investment decision in IGEA. The information contained in this press release has been carefully prepared. However, IGEA bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. IGEA does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons. This publication may contain specific forward-looking statements and assessments or intentions concerning IGEA and its business. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of IGEA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. IGEA assumes no responsibility to update forward looking statements or to adapt them to future events or developments, except as may be required by law.