Belgian biotech firm Tigenix seeks new funding
(Adds net loss, details on Dutch manufacturing centre)
BRUSSELS Aug 20 (Reuters) - Belgian biotech firm Tigenix is looking for new sources of funding, such as loans and a capital increase, to bridge a gap over the next year, the group said on Tuesday.
Tigenix, which had a cash position of 3.7 million euros at the end of June, said it would need additional capital of about 12 million euros over the next 12 months.
The group would also look at how it could use assets such as its Dutch manufacturing centre to generate funds, the company said.
It said sales of its main drug ChondroCelect, which repairs damaged cartilage in the knee, were 2.3 million euros in the first half of 2013.
Overall, the group made a net loss of 8.9 million euros in the period, down from 10 million euros in the same period last year. (Reporting by Robert-Jan Bartunek; Editing by David Cowell)
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- U.S. ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone