NetworkNewsBreaks – IGC Pharma Inc. (NYSE Americ
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Posted On: 07/07/2023 4:52:46 PM
NetworkNewsBreaks – IGC Pharma Inc. (NYSE American: IGC) Secures $12M Line of Credit to Strengthen Efforts in Alzheimer’s Research
IGC Pharma (NYSE American: IGC), a clinical-stage pharmaceutical company, has secured a $12 million revolving line of credit from the Hong Kong Branch of O-Bank Co. Ltd. The funding will support IGC’s working capital needs primarily related to its Alzheimer’s research. Bradbury Asset Management (Hong Kong) Limited, a Hong Kong headquartered financial institution managing approximately $2 billion in assets, has collateralized cash assets in support of the line of credit. This follows the recent investment of $3 million in IGC led by four investment funds managed by Bradbury through a private placement, highlighting continued support for the company. “We are thankful to O-Bank for their support and grateful for the continued support from Bradbury,” said Ram Mukunda, CEO of IGC Pharma. “Together, with our dedicated investors and partners, we are working towards our goal of developing innovative therapies for Alzheimer’s disease. With their support, we are focused on advancing IGC-AD1 and bringing hope and relief to millions of patients and families worldwide.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
IGC Pharma (NYSE American: IGC), a clinical-stage pharmaceutical company, has secured a $12 million revolving line of credit from the Hong Kong Branch of O-Bank Co. Ltd. The funding will support IGC’s working capital needs primarily related to its Alzheimer’s research. Bradbury Asset Management (Hong Kong) Limited, a Hong Kong headquartered financial institution managing approximately $2 billion in assets, has collateralized cash assets in support of the line of credit. This follows the recent investment of $3 million in IGC led by four investment funds managed by Bradbury through a private placement, highlighting continued support for the company. “We are thankful to O-Bank for their support and grateful for the continued support from Bradbury,” said Ram Mukunda, CEO of IGC Pharma. “Together, with our dedicated investors and partners, we are working towards our goal of developing innovative therapies for Alzheimer’s disease. With their support, we are focused on advancing IGC-AD1 and bringing hope and relief to millions of patients and families worldwide.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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