Cantargia signs SEK 50 million financing facility agreement, extending cash runway into 2026 and providing operating flexibility to drive strategic plans
Cantargia (Cantargia AB (publ); Nasdaq Stockholm: CANTA) today announced that it has entered into a loan agreement of SEK 50 million with Fenja Capital II A/S, extending the company’s financial runway well into 2026 and strengthening its position in consideration of strategic opportunities.
“This non-dilutive facility immediately strengthens our financial position, balances near-term capital requirements and enables strategic flexibility in our ongoing discussions to progress the development of Cantargia’s lead programs that have shown highly promising clinical results,” said Damian Marron, interim Chief Executive Officer of Cantargia AB. “We believe that both CAN10 and nadunolimab have the potential to address significant unmet needs in their respective therapeutic areas, so we are focused on finding best options to advance these programs further.”
Under the terms of the loan agreement, Cantargia will receive an initial tranche of SEK 25,000,000 at the close, with the second tranche available to be called upon after June 30, 2025, subject to the total loan not exceeding 10% of Cantargia’s market capitalization. The facility has a duration of six months with the possibility to extend maturity by an additional three months.
The Board of Directors has assessed the terms and conditions within the framework of the Loan Agreement as market-based and that the raising of these funds is in the best interests of both Cantargia and its shareholders.
