The credit facility will have a 30-month term and Transgene will be able to draw on and repay the facility at its discretion.
Transgene has used its shares in the Chinese biotech company Tasly Biopharmaceuticals as collateral for this loan.
As a reminder, Transgene became a Tasly Biopharmaceuticals shareholder in July 2018 and holds 2.5% of its capital as the result of a series of agreements under which Transgene transferred to Tasly Biopharmaceuticals its Chinese rights to T601 and T101, two immunotherapies discovered by Transgene and which are currently being developed by Tasly Biopharmaceuticals in Greater China.
Tasly Biopharmaceutials has announced its intention to list its shares on the Hong Kong Stock Exchange.
Transgene (Euronext: TNG) is a publicly traded French biotechnology company focused on designing and developing targeted immunotherapies for the treatment of cancer and infectious diseases. Transgene's programmes utilise viral vector technology with the goal of indirectly or directly killing infected or cancerous cells.
The company's lead clinical-stage programs are: TG4010, a therapeutic vaccine against non-small cell lung cancer, Pexa-Vec, an oncolytic virus against liver cancer, and TG4001, a therapeutic vaccine against HPV-positive head and neck cancers.
The company has several other programmes in clinical development, including TG1050 (a therapeutic vaccine for the treatment of chronic hepatitis B) and TG6002 (an oncolytic virus for the treatment of solid tumors).
With its proprietary Invir.IO, Transgene builds on its expertise in viral vectors engineering to design a new generation of multifunctional oncolytic viruses.
myvac, an individualized MVA-based immunotherapy platform designed to integrate neoantigens, completes this innovative research portfolio. TG4050 is the first candidate selected from the myvac platform.
Poolbeg PHarma plc receives notice of allowance for POLB 001 patent
RedHill Biopharma secures USPTO Patent for Talicia, extending protection through 2034
Micron Biomedical names new scientific advisor to CEO
Quanterix partners with leading health networks for Alzheimer's diagnosis advancements
Precision BioSciences reports FDA pre-IND feedback for PBGENE-HBV
VBI to sell manufacturing capabilities and enter new license agreement with Brii Biosciences
Ondine Biomedical's Steriwave shows promise in nasal pathogen reduction
BioSenic expands patent coverage for ATO therapeutic platform
PacBio unveils Nanobind PanDNA kit for enhanced DNA extraction solutions
Sequentify receives funding from Israel Innovation Authority
INOVIO plans BLA submission for INO-3107 as RRP treatment
ImmunityBio secures USD320m investment from Oberland Capital
Poolbeg Pharma prioritises promising RSV drug candidates identified through AI-led analysis
GHIT fund invests JPY500m in antimalarial drug clinical trial