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Biomay completes private placement and receives ERP loan (19 Sep. 2013)

 

Biomay announced today that the company has completed a private placement with a volume of 3 million Euros. The new shares were subscribed by the group of existing shareholders.

In Addition, the company has been awarded a loan with a volume of 2 million Euros from the ERP loan program, administered by the Austria Wirtschaftsservice GmbH (AWS), the SME business development bank of the Austrian Government.

"We are extremely grateful to our loyal Investors, who continue to support the Company and share our vision of leadership in the field of allergy immunotherapy", commented CEO Rainer Henning. "We are alos proud that AWS has recognized the value of our Technology and provided us with this important loan facility."

The fresh capital will be employed for seamless clinical development of the grass pollen allergy vaccine BM32, and the preclinical evaluation of the pipeline products for house dust mite, cat, ragweed and birch allergies.

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