Clene Announces Closing of $5 Million Debt Facility from the State of MarylandFunding Demonstrates Importance of Working with Private Sector to Improve Lives of Marylanders, says Governor Hogan
Summary
SALT LAKE CITY, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Clene Inc. (Nasdaq: CLNN) (along with its subsidiaries Clene) and its wholly owned subsidiary Clene Nanomedicine Inc., a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease, today announced the closing of a $5 million debt facility (the Loan) with the Maryland Department of Housing and Community Development (DHCD).The State Small Business Credit Initiative (SSBCI) program within DHCD sourced the funds for the Loan from the U.S. Department of Treasury. The Loan bears interest at a rate of 6% per annum and has a maturity date 60 months from the first day of the second full month following the date the Loan closes.Mark Mortenson, Founder and Chief Science Officer of Clene, commented, We are immensely appreciative of the financial support from the State of Maryland and DHCD. For more information, please visit www.clene.com or follow us on Twitter, LinkedIn and Facebook.This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions created by those laws. These forward-looking statements represent our views as of the date of this press release and involve a number of judgments, risks and uncertainties. Some factors that could cause actual results to differ include our ability to demonstrate the efficacy and safety of our drug candidates; and other risks and uncertainties set forth in Risk Factors in our filings with the SEC, including our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.