NetworkNewsBreaks – Scinai Immunotherapeutics Lt
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Posted On: 11/29/2023 3:34:41 PM
NetworkNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Announces Maturity Extension of EIB Finance Facility
Scinai Immunotherapeutics (NASDAQ: SCNI) today announced the execution of a formal amendment to its finance contract with the European Investment Bank (“EIB”). According to the announcement, the amendment extends the maturity date of the contract by four years from Dec. 31, 2027, to Dec. 31, 2031. “I thank the EIB for their ongoing support and cooperation. As the lending arm of the European Union, the EIB’s mission includes providing financing to support medical research and improve health care, and to do so in a manner that provides innovative young companies not only with required resources but also sufficient time to achieve their business goals,” said Scinai’s CEO Amir Reichman. “This extension of the maturity date of our financial facility agreement recognizes the time frame required to develop our anti–IL–17 NanoAbs as a treatment for autoimmune diseases such as psoriasis and psoriatic arthritis. In particular, the extension will positively impact our financial health, thereby helping to clear the path towards developing Scinai into a company that provides significant value to patients and shareholders.”
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
Scinai Immunotherapeutics (NASDAQ: SCNI) today announced the execution of a formal amendment to its finance contract with the European Investment Bank (“EIB”). According to the announcement, the amendment extends the maturity date of the contract by four years from Dec. 31, 2027, to Dec. 31, 2031. “I thank the EIB for their ongoing support and cooperation. As the lending arm of the European Union, the EIB’s mission includes providing financing to support medical research and improve health care, and to do so in a manner that provides innovative young companies not only with required resources but also sufficient time to achieve their business goals,” said Scinai’s CEO Amir Reichman. “This extension of the maturity date of our financial facility agreement recognizes the time frame required to develop our anti–IL–17 NanoAbs as a treatment for autoimmune diseases such as psoriasis and psoriatic arthritis. In particular, the extension will positively impact our financial health, thereby helping to clear the path towards developing Scinai into a company that provides significant value to patients and shareholders.”
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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