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Xbrane Biopharma

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XBRANE BIOPHARMA'S PRINCIPAL OWNER SYSTEMATIC GROUP PROVIDES A SHORT-TERM LOAN OF SEK 20 M TO THE COMPANY

MAR

Xbrane Biopharma AB (publ) ("Xbrane" or the "Company") has today received a short-term loan from Systematic Group AB ("Systematic Group") of SEK 20 million (the "Loan").

The loan provided by Systematic Group amounts to SEK 20 million and runs for approximately 1 month until the expected up-front payment of €10 million from Intas Pharmaceuticals Ltd, in accordance with the previously communicated license agreement for Xdivane (Opdivo biosimilar candidate), is received. Interest is charged at 1 percent per month. The loan will finance the company's working capital needs until the above-mentioned up-front payment is received.

Contacts

Martin Åmark, CEO
E: martin.amark@xbrane.com

Anette Lindqvist, CFO/IR
E: anette.lindqvist@xbrane.com

About Us

Xbrane Biopharma AB develops biological drugs based on a patented platform technology that provides significantly lower production costs compared to competing systems. Xbrane has a portfolio of biosimilar candidates targeting EUR 26 billion in estimated annual peak sales of the respective reference product. The lead candidate Ximluci® is granted market authorization approval in Europe and was launched during 2023. Xbrane’s head office is in Solna, just outside Stockholm. Xbrane is listed on Nasdaq Stockholm under the ticker XBRANE. For more information, visit www.xbrane.com  

This information is information that Xbrane Biopharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-12-02 14:30 CET.

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XBRANE BIOPHARMA'S PRINCIPAL OWNER SYSTEMATIC GROUP PROVIDES A SHORT-TERM LOAN OF SEK 20 M TO THE COMPANY

Datum 2024-12-02, kl 14:30
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XBRANE BIOPHARMA'S PRINCIPAL OWNER SYSTEMATIC GROUP PROVIDES A SHORT-TERM LOAN OF SEK 20 M TO THE COMPANY
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