MedinCell announced this evening that it has received the final €10 million tranche of the loan from the European Investment Bank (EIB).

The drawdown of this final tranche of a total loan of €40 million signed with the EIB in November 2022 was conditional on UZEDY's US FDA approval, obtained on April 28, 2023.

' Our free cash flow enables us to advance the development of our portfolio and our R&D activities. In addition, we will now receive royalties on sales of UZEDY. These could cover our operating expenses as early as 2025", said Jaime Arango, CFO of MedinCell.

In parallel with the receipt of this 10 million euro tranche, and in accordance with the terms of the credit agreement, MedinCell has issued 313,607 share warrants (BSA) to the EIB.

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