Newron Pharmaceutical receives third tranche of EIB loan

Italy-based Newron Pharmaceutical has received Tranche 3 under its financing agreement with the European Investment Bank. The tranche consists of €7.5 million and will primarily be used to support the company’s development programs in diseases of the central nervous system.

The EIB loan - up to a total of €40 million - is backed by the European Fund for Strategic Investments. The first two tranches of the loan totalling €17.5 million were received by Newron in 2019.

In connection with Tranche 3, EIB has received warrants entitling it to purchase up to 151,344 ordinary shares of Newron at an exercise price of €9.25 per share.