ChemoTech is pleased to announce the signing of new restructured loan agreements to replace its previous short-term bridge financing. The new agreements include a 2.4 MSEK loan from two external investors and a 3.4 MSEK loan from a Board member and the CEO. All loans retain the same terms as previous agreements, except for an extended duration from six to twelve months, to 31 of January 2026. These measures are part of ChemoTech's ongoing efforts to strengthen and optimize its financial structure, reducing the need for share issues to repay matured loans and creating an opportunity to significantly grow cash flow during the year to come and beyond.
Regulatory press release
Lund, Sweden 30 January 2025
CEO Mohan Frick commented, "This agreement reflects our commitment to creating a stable foundation for the Company's future growth. Together with our improved revenues and cost-saving measures, the new loans position us to better navigate market challenges and focus on delivering innovative cancer care solutions for both humans and animals."
This announcement comes shortly after ChemoTech's decision to split its business units to enhance cash flow and efficiency, as detailed in its recent communication: Scandinavian ChemoTech Splits Business Units to Boost Cash Flow.
For further information please contact:
Mohan Frick, CEO
Phone: +46 (0)10-218 93 00
E-mail: ir@chemotech.se
Certified Adviser: Redeye AB
As of January 9th, 2025, we have discontinued translating our press releases into Swedish. Certain information will still be published in Swedish due to current regulations.
Scandinavian ChemoTech AB (publ)
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Redeye AB is the company's Certified Adviser. Read more at: www.chemotech.se.
This disclosure contains information that ChemoTech is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-01-2025 09:31 CET.
