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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