Arctic Bioscience – Credit facility of NOK 30 mill. established
Summary
Through the companys primary bank, Arctic Bioscience has established a credit facility of NOK 30 million to support the nutra business growth potential. The credit facility has been entered into on ordinary market terms and has a duration of 1 year with annual renewal.This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.For more information, please contact:Arctic Bioscience is a biotech company developing and commercializing pharmaceutical and nutraceutical products based on unique bioactive marine compounds.The company is developing HRO350 a novel investigational drug candidate. HRO350 is being developed for treatment of patients with mild-to-moderate psoriasis. This is a large patient group in need of new effective medicines with beneficial safety profile.Nutraceuticals from Arctic Bioscience are sold globally as bulk ingredients as well as finished goods under the ROMEGA\xae brand.Arctic Bioscience is led by a team of highly competent people with experience in developing marine oils and experience from global pharmaceutical companies.