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Tuesday, 31 Mar 2020 03:00 pm

Neuritek Therapeutics secures a capital commitment of 25 million euros from Gem Group

Neuritek Therapeutics secures a € 25m capital commitment from Gem Group to develop next-generation treatments for post-traumatic stress disorder (PTSD)


Neuritek Therapeutics, Ltd. (Neuritek), a biotechnology company incorporated under the laws of the UK and whose principal place of business is located at 200 W 57 th Street, New York, NY 10019 (United States), has announced that it has signed an agreement with the GEM Global Yield LLC SCS ("GEM") group, an alternative private investment group based in Luxembourg, to inject into Neuritek up to 25 million euros in a term of 3 years according to the public listing of Neuritek's ordinary shares. Neuritek will use those funds to develop treatments for Post-Traumatic Stress Disorder (PTSD), a medical condition that often develops in people who have been exposed to severe trauma.

The first 25 million euros will be in the form of a capital commitment that will allow Neuritek to withdraw funds for 3 years by issuing shares in the ordinary market in the name of GEM (or that of the indicated persons) and subject to the loan agreement (s). of actions.

Neuritek will control the terms and the maximum amount of the draft under these conditions and does not have a minimum amount stipulated. In conjunction with the public listing of Neuritek shares, the company will issue warrants to GEM to acquire up to ten percent (10%) of the company's remaining equity securities on a fully diluted basis. Warrants will have an exercise price per share equivalent to the closing price of the shares on the first day of commercial activity after the public offering of shares.

Tags Neuritek Therapeutics Gem Group Post-traumatic stress disorder (PTSD) Biotechnology Treatment

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.

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