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Trellus Health PLC on Monday said it has entered into a $600,000 unsecured loan agreement with its long-standing shareholder, Icahn School of Medicine at Mount Sinai. Shares in Trellus Health rose 14% to 0.60 pence on Monday afternoon in London. The London-based healthcare company said the loan extends its near-term cash runway to late January 2026. In the meantime, Trellus Health said it ‘remains in active discussions regarding a potential equity fundraising to extend the cash runway further.’ The company added that it is focusing on securing additional commercial contracts with pharmaceutical companies and contract research organisations. The loan note is non-interest bearing for the first six months, before accruing interest at an annual rate of 8%. The term of the loan note is 12 months, at which point the company may elect to redeem, convert into ordinary shares, or apply a combination of both at a conversion price of 0.525 pence. Trellus Health Chief Executive Marla Dubinsky said: ‘We are extremely grateful for Mount Sinai’s continued support, which enables us to focus on executing agreements with pharmaceutical companies and CROs. ‘Over the past month, we have signed contracts with two leading global CROs, reaffirming both the value of our offering to the pharmaceutical sector and our ability to secure and deliver on partnerships with industry leaders in drug development and clinical research. We have already begun implementation for the Phase 2B and Phase 3 trials with these partners and expect to launch the initial TrialSet programs by year-end.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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