SphingoTec Issues Convertible Note Facility

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.
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