Clinigen agrees a new £35 million banking facility.
Burton-on-Trent, UK - 04 April 2014 Clinigen Group plc ("Clinigen" or the "Group") (AIM: CLIN) has agreed a new four year £35 million multi-currency revolving credit facility. An accordion option has also been agreed under which Clinigen can request an additional £15 million on the same terms.
The facility, provided by the Group's existing bankers, The Royal Bank of Scotland PLC, replaces the existing £20 million facility. It is secured on the tangible and intangible assets of the Group.
Robin Sibson, Clinigen's Chief Financial Officer, said: "This significantly increased facility will provide us with the flexibility to continue to deliver our strategy of adding to our SP product portfolio whilst we continue to drive the business forward through organic growth."
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About Clinigen Group
The Clinigen Group is a specialty global pharmaceutical company headquartered in the UK, with offices in the US and Japan. The Group, dedicated to delivering 'the right drug, to the right patient at the right time', has three operating businesses; Specialty Pharmaceuticals (Clinigen SP), Clinical Trials Supply (Clinigen CTS), and Global Access Programs (Clinigen GAP). Clinigen SP focuses on acquiring and in licensing specialist, hospital only medicines worldwide and commercializing them within niche markets. Clinigen CTS sources commercial medical products for use in clinical studies only, including comparator drugs, adjuvant drugs and rescue therapies. Clinigen GAP specializes in the consultancy, development, management and implementation of programs providing access for patients and their clinicians to drugs not available in their markets. For more information, please visit www.clinigengroup.com.
Clinigen Group plc
Tel: +44 (0) 1283 495 010
Peter George, Group Chief Executive Officer
Robin Sibson, Chief Financial Officer
Numis Securities Limited
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