NEW YORK (GenomeWeb) — German molecular diagnostics firm Curetis said today that it will receive €6.5 million ($7.3 million) in gross proceeds under two financing facilities.
According to Curetis, it will receive a €5.0 million tranche of non-dilutive debt financing under a loan deal signed with the European Investment Bank in late 2016. The company also said it will now be able to access €1.5 million under a €20 million convertible notes financing facility signed with Yorkville Advisors Global in October.
Curetis CEO Oliver Schacht said in a statement that the additional funding will enable the company to advance its R&D efforts, which include partnering its Unyvero A30 RQ mid-plex molecular diagnostics system for verification and validation testing, as well as securing US clearance for its Unyvero lower respiratory tract infection test for use with bronchoalveolar lavage.
"The Yorkville funding will also support commercial activities in the US and business development initiatives in Europe and Asia," he added.
Earlier this month, Curetis said it ended the first quarter with €6.2 million in cash and cash equivalents.