R & D Facility Agreement with Fundsquire Pty Ltd
Sydney, Oct 13, 2022 AEST (ABN Newswire) - VGI Health Technology Limited (
NSX:VTL) is pleased to announce that it has entered into an R&D Loan Facility Agreement (Loan Facility) with Fundsquire Pty Ltd (Fundsquire). The Loan Facility allows up to 80% of VTL's expected R&D Tax Refund in FY23 to be advanced to VTL by Fundsquire and the first drawdown of $209,500.00 on this Loan Facility has been received by the Company.
Dr Glenn Tong, the CEO and Managing Director of VTL said "We are very pleased to have access to this Loan Facility which will facilitate the advancement of our clinical development program, and in particular, our two Phase II Clinical Studies in Non-Alcoholic Fatty Liver Disease and Pancreatic Adenocarcinoma".
About VGI Health Technology Limited
VGI Health Technology Limited (NSX:VTL) is an Australian public listed biotechnology company developing and commercialising novel dietary supplements and prescription medicines based on natural products (tocotrienols) which have wide therapeutic potential, including: Delayed Onset Muscle Soreness, muscle recovery, exercise endurance, Non-Alcoholic Fatty Liver Disease (NAFLD), Non-Alcoholic SteatoHepatitis (NASH), pancreatic cancer, hyperlipidaemia, hypertension and diabetes. VTL owns and controls patent and other intellectual property rights for novel approaches to non-invasively delivering tocotrienols directly to the target tissues. The Company has a product development program for evidence-based nutraceuticals and a clinical development program for prescription medicines.
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