Zealand Pharma has signed EUR 90 million finance contract with The European Investment Bank (EIB)

Plesner has acted for NASDAQ Copenhagen-listed biotech Zealand Pharma, in connection with a finance contract concerning a EUR 90 million term loan facility from The European Investment Bank.

The financing from EIB, which is divided into three tranches, will be applied for the purpose of supporting the financing of Zealand Pharma's R&D pipeline.  

One of the conditions to utilisation of each tranche is that EIB receives warrants in Zealand Pharma. Plesner has also acted for Zealand Pharma in connection with a warrant agreement between Zealand Pharma and EIB and the issuance of warrants for the first tranche.

Venture debt products combining debt and warrants are a growing component of the Danish financing market for early-stage ventures and businesses in investment-heavy sectors such as tech and life science. Plesner has extensive experience navigating the complex interaction between debt and equity financing such transactions involve and recent highlights including acting for tech company Templafy and acting for EIB on a EUR 18 mill. venture debt facility to space start-up GomSpace.

Zealand Pharma is a Danish biotechnology company established in 1998 with headquarter in Copenhagen and activities in the US. The company is focused on the discovery and development of innovative peptide-based medicines.

The core Plesner team consisted of Rasmus Mandøe Jensen, Micha Fritzen and Anne Bro Kristensen.

Read Zealand Pharma's press release

Read EIB's press release

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