IO Biotech secures up to €57.5 million in debt financing from the European Investment Bank
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IO Biotech has secured up to €57.5 million in debt financing from the European Investment Bank. The financing includes three committed tranches totaling €37.5 million and an uncommitted tranche of €20 million, with the first two tranches expected to be available in Q1 2025.
December 20, 2024 | 1:30 pm
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IO Biotech has secured a significant debt financing deal with the European Investment Bank, which could provide up to €57.5 million. This financing will support the company's development of cancer vaccines, with the first tranches expected in early 2025.
The debt financing from the EIB provides IO Biotech with significant capital to continue its development of cancer vaccines. The availability of the first tranches in early 2025 suggests a positive short-term impact on the company's financial stability and ability to fund its projects.
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