The Board of Directors of Artgen Biotech (MOEX: ABIO) has approved the placement of exchange-traded bonds in the amount of RUB 300 million.
The issue provides for the possibility of placing non-convertible uncertificated (book-entry) bonds of series BO-02 by open subscription for a term of 5 years. A total of 300,000 bonds with a par value of RUB 1,000 per bond will be issued.
"The Company is placing a bond issue to stably improve the Group's liquidity in the medium term, in order to ensure dynamic development and advance our R&D efforts toward practical healthcare, as well as to support ongoing operating and financial activities," comments Sergey Masyuk, Director of Artgen Biotech. "The Company has a strong financial position and a solid, high credit rating. Our financial indicators allow us to raise additional funds without a long-term downgrade of our rating or loss of financial stability. Artgen Biotech is actively driving new projects forward. The Company's ecosystem includes around 30 early-stage R&D projects, from which we expect up to 10 gene therapy drug candidates to emerge for the treatment of genetic, age-related, infectious, and oncological diseases. Furthermore, we are progressing already registered R&D projects and products at advanced stages that are close to receiving marketing authorization."
Artgen Biotech is a biotechnology company with a portfolio of innovative platform R&D projects, bringing them into practical healthcare. The Artgen Biotech Group comprises companies at various stages of development — from the seed stage to early growth and maturity — as well as companies that form an ecosystem for accelerating biotech R&D within the Group.