MONTREAL, Sept. 23 /CNW Telbec/ - Aegera Therapeutics, a clinical stage biotechnology company focussed on developing targeted therapeutics for oncology and pain, announced today the full drawdown of a $7 Million debt facility provided by Investissement Québec. The $7 Million facility was provided to fund the attainment of significant milestones in Aegera's AEG35156 oncology program and AEG33773 diabetic neuropathic pain program, both of which are currently being tested in randomized Phase 2 clinical trials in Canada, the United States and Europe, as well as to provide additional working capital to Aegera.
"Investment Québec's loan is an extremely attractive loan facility with favourable terms and conditions. It represents a very interesting alternative to more dilutive equity funding and will strengthen our balance sheet, as we approach the reporting of key Phase 2 clinical data from two of our three clinical programs in 2010," declared Donald Olds, Chief Operating Officer & CFO of Aegera.
About Aegera Therapeutics Inc.
Aegera Therapeutics is focused on developing targeted therapeutics to address major unmet medical needs. AEG35156 (oncology) and AEG33773 (diabetic neuropathic pain) are both in randomized Phase 2 clinical trials and AEG40826/HGS1029 is currently in a Phase 1 oncology trial in collaboration with our development partner Human Genome Sciences (NASDAQ: HGSI). Additional program details can be accessed at www.aegera.com or by contacting us directly.
About Investissement Québec
Investissement Québec promotes the growth of investment in Québec and contributes to economic development and job creation in every region. Over the last ten years, the Corporation has enabled investment projects in excess of $48 billion and the creation of close to 160,000 jobs.
SOURCE AEGERA THERAPEUTICS INC.
For further information: For further information: Aegera Therapeutics Inc.: Donald Olds, MSc, MBA, Chief Operating Officer & CFO, (514) 288-5532 *295, firstname.lastname@example.org; Investissement Québec : Josée Béland, Media Spokesperson, (514) 873-5786, Josee.email@example.com