LUND, SE / ACCESS Newswire / June 17, 2025 / Cantargia (STO:CANTA) - Cantargia (Cantargia AB (publ); Nasdaq Stockholm: CANTA) today announced that it has entered into a loan agreement of SEK 50 million with Fenja Capital II A/S, extending the company's financial runway well into 2026 and strengthening its position in consideration of strategic opportunities.
"This non-dilutive facility immediately strengthens our financial position, balances near-term capital requirements and enables strategic flexibility in our ongoing discussions to progress the development of Cantargia's lead programs that have shown highly promising clinical results," said Damian Marron, interim Chief Executive Officer of Cantargia AB. "We believe that both CAN10 and nadunolimab have the potential to address significant unmet needs in their respective therapeutic areas, so we are focused on finding best options to advance these programs further."
Under the terms of the loan agreement, Cantargia will receive an initial tranche of SEK 25,000,000 at the close, with the second tranche available to be called upon after June 30, 2025, subject to the total loan not exceeding 10% of Cantargia's market capitalization. The facility has a duration of six months with the possibility to extend maturity by an additional three months.
The Board of Directors has assessed the terms and conditions within the framework of the Loan Agreement as market-based and that the raising of these funds is in the best interests of both Cantargia and its shareholders.
For further information, please contact
Damian Marron, Interim CEO
Telephone: +46 (0)46-275 62 60
E-mail: damian.marron@cantargia.com
This information is information that Cantargia is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-06-17 19:45 CEST.
About Cantargia
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases and has established a platform based on the protein IL1RAP, involved in a number of cancer forms and inflammatory diseases. Cantargia's oncology program, the antibody nadunolimab (CAN04), is being studied clinically, primarily in combination with chemotherapy with a focus on pancreatic cancer, non-small cell lung cancer and triple-negative breast cancer. Positive data for the combinations indicate stronger efficacy than would be expected from chemotherapy alone. Cantargia's second development program, the antibody CAN10, blocks signaling via IL1RAP in a different manner than nadunolimab and addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on hidradenitis suppurativa and systemic sclerosis.
Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). More information about Cantargia is available at www.cantargia.com.
Attachments
Cantargia signs SEK 50 million financing facility agreement, extending cash runway into 2026 and providing operating flexibility to drive strategic plans
SOURCE: Cantargia
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/cantargia-signs-sek-50-million-financing-facility-agreement-extending-1040591
