On Tuesday, Zealand Pharma announces a seven-year financing agreement worth up to USD 200m with private investment firm Oberland Capital, as reported in a press release.
Pursuant of the agreement, Zealand Pharma receives USD 100m as an upfront payment and is granted the option to receive an additional USD 50m before Dec. 31, 2023, on the condition that the biotech firm's drug candidate, glepaglutide, which is a potential treatment of short bowel syndrome (SBS), is approved by the US Food and Drug Administration (FDA).
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