A cornerstone investor at Shield Therapeutics has finalised a $10m shareholder loan agreement with the Tyneside pharma firm.
Gateshead-based Shield Therapeutics has developed an iron deficiency anaemia drug which is manufactured at a number of sites including North East bases, and is available in Europe under the Ferracru brand and other countries as Accrufer.
In June the firm announced a strong start to its new financial year, but revealed that efforts to raise $30m in equity which would have opened the door to a larger debt facility had failed “due to the extremely challenging equity market conditions”.
