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Midatech Pharma gets £6M senior secured loan

Feb 28, 2017 - SNL European Financials Daily

Midatech Pharma PLC entered into a £6 million senior secured loan agreement with Silicon Valley Bank.

The company will get an initial tranche of £2 million, which is available on signing and is expected to be received within the next 10 working days. Two subsequent tranches of £2 million each will become available based on the achievement of certain clinical development milestones.

The loans will be repayable by June 2020.

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