Henderson secures loans as cash talks continue
BIOTECHNOLOGY firm Henderson Morley has agreed loans totalling £55,000 from executive directors Andrew Knight and Ian Pardoe.
The company is currently in talks with Mr Knight, Dr Pardoe and others to raise funds to enable it to meet operational expenses until the disposal of the intellectual property of its ICVT human portfolio.
Henderson, based in the Mosley area of Birmingham, says funding currently under discussion may involve the issue of convertible loan notes and warrants to subscribers – although no firm agreement has yet been reached.
It said the loans of £27,500 each from Mr Knight and Dr Pardoe had been put in place to allow the company time to finalise further funding arrangements.
Henderson is in discussion with American pharmaceutical firm KMS Therapeutics in a bid to develop anti-viral Ionic Contraviral Therapy (ICVT).
It recently carried out a satisfactory due diligence survey regarding the agreement between Henderson and KMS.
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