TME Pharma will focus its resources in the next seven months towards the newly prioritized strategic aims of completing a spin-out or a strategic transaction in addition to licensing or financing transactions on both NOX-A12 and NOX-E36 by June 2025
Financing for this period is secured with €2.6 million, 100% guaranteed by a group of existing TME Pharma shareholders holding 11% of outstanding shares and a corporate partner
Net proceeds will extend financial visibility from January 2025 into June 2025
TME Pharma will operate on a significantly reduced cost base if longer time needed to reach these goals ensuring significantly reduced future capital cqhys
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