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SphingoTec Issues Convertible Note Facility

Diagnostic company SphingoTec GmbH (SphingoTec) today announced that the Company has issued a non-brokered, unsecured convertible note facility amounting to EUR 5 million that was fully subscribed by current and new investors. 

Hennigsdorf, Germany August 19, 2020 – Diagnostic company SphingoTec GmbH (SphingoTec) today
announced that the Company has issued a non-brokered, unsecured convertible note facility
amounting to EUR 5 million that was fully subscribed by current and new investors. The proceeds of
the transaction will bridge to a larger financing round planned for later this year or early 2021 to fund
the further growth of the company, in particular the commercialization of the company’s innovative
diagnostic products for critical care in Europe, the required scale up of manufacturing capabilities
and gaining access to the U.S. market.