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BRIEF-Crescita Therapeutics announces amended loan agreement with Knight Therapeutics

Published 2017-08-14, 08:41 a/m
© Reuters.  BRIEF-Crescita Therapeutics announces amended loan agreement with Knight Therapeutics
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Aug 14 (Reuters) - Crescita Therapeutics Inc CTX.TO

* Crescita Therapeutics announces amended loan agreement with Knight Therapeutics

* Crescita Therapeutics Inc - announced it has entered into an amended loan agreement with Knight Therapeutics Inc

* Crescita Therapeutics Inc - under terms of amended loan agreement, Crescita will immediately repay $2.5 million of loan

* Crescita Therapeutics Inc - Knight has agreed to release letter of credit in exchange for a general security interest over all of Crescita's assets

* Crescita Therapeutics - has access to additional $6.0 million of cash that was previously restricted under terms of letter of credit - to fund operations

* Crescita Therapeutics - loan continues to bear interest at 9% per annum and matures on January 22, 2022

* Entered into an amended loan agreement with knight therapeutics inc

* Crescita agreed to make additional repayments such that principal amount of loan is reduced to $2.5 million by December 31, 2018

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