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Santaris-chairman: Major loan to ensure survival

In order to make ends meet and ensure security, Santaris Pharma will assume a loan from its investors. There is some uncertainty concerning milestone payments and the loan will help the Danish biotech company to take the coming crucial steps.

Foto: Torben Stroyer / Jyllands-Posten

Santaris Pharma is struggling to bring the company’s great medicine hope Miravirsen for hepatitis C through clinical development phases. The company has no real income from products or licenses, and it is still waiting for milestone payments – payments that may never come.

So the management, board of directors and investors have just about decided that a 70 million kroner loan is to provide a foundation and cover the company’s burn rate in the immediate future, thus securing the operation of the biotech company, should milestone payments not arrive later in the year as expected.

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