14th Jul 2015 07:38
LONDON (Alliance News) - Imperial Innovations Group PLC on Tuesday said it has secured a further GBP50 million loan facility from the European Investment Bank to back its investments in the UK biotechnology and life sciences sector.
Imperial said the new facility is the second it has secured from the bank, following from a GBP30 million loan agreed in July 2013.
Imperial said it currently has GBP167.8 million available for investment, including the second tranche of its original European Investment Bank loan.
"To secure a second facility from the EIB is a clear endorsement of the quality, maturity and breadth of our portfolio, as well as our expertise in investing and developing both early-stage and developing businesses," said Chief Executive Russ Cummings.
Shares in Imperial Innovations were untraded Tuesday morning, having last traded at 444.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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