Allergy
Therapeutics
plc
("Allergy Therapeutics", the "Group" or "Company")
Update on
funding
27
August 2024 Allergy Therapeutics plc
(AIM: AGY), the integrated commercial biotechnology company
specialising in allergy vaccines, today announces an update on the
Group's working capital position.
Following discussions with major
shareholders SkyGem Acquisition Limited (an affiliate of ZQ Capital
Management Limited) and Southern Fox Investments Limited (together
the "Lenders"), the Lenders have agreed to provide a further £5m
from the existing amended loan facility (the "Amended Loan
Facility"), details of which were announced on 27 December
2023.
As a consequence, the Group has
successfully extended its cash runway into late
September.
There remains a further £12.5m of
uncommitted funding available under the Amended Loan Facility and
the Company continues to explore further funding options to support
its ongoing operations and development pipeline.
This announcement contains inside
information for the purposes of the UK Market Abuse
Regulations.
ENDS
Allergy Therapeutics
Manuel Llobet, Chief Executive
Officer
Shaun Furlong, Chief Financial
Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and
Broker)
Geoff Nash / Seamus Fricker / Rory
Sale
Nigel Birks/Tamar Cranford Smith -
Sales
+44 (0)20 7220 0500
ICR
Consilium
Mary-Jane Elliott / David Daley /
Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@consilium-comms.com
About Allergy Therapeutics
Allergy Therapeutics is an
international commercial biotechnology company, headquartered in
the UK, focussed on the treatment and diagnosis of allergic
disorders, including aluminium free immunotherapy vaccines that
have the potential to cure disease. The Group sells proprietary and
third-party products from its subsidiaries in nine major European
countries and via distribution agreements in an additional ten
countries. Its broad pipeline of products in clinical development
includes vaccines for grass, tree, house dust mite and peanut. For
more information, please see www.allergytherapeutics.com.