BioMedNewsBreaks – IGC Pharma Inc. (NYSE American: IGC) Secures $12M Line of Credit to Strengthen Efforts in Alzheimer’s Research
IGC Pharma (NYSE American: IGC), a clinical-stage pharmaceutical company, has secured a $12 million revolving line of credit from the Hong Kong Branch of O-Bank Co. Ltd. The funding will support IGC’s working capital needs primarily related to its Alzheimer’s research. Bradbury Asset Management (Hong Kong) Limited, a Hong Kong headquartered financial institution managing approximately $2 billion in assets, has collateralized cash assets in support of the line of credit. This follows the recent investment of $3 million in IGC led by four investment funds managed by Bradbury through a private placement, highlighting continued support for the company. “We are…