16 Aug, 2010 Moberg Derma has acquired a credit facility totaling SEK 50 million. The agreement runs for two years. The facility will be used to finance day-to-day operations. The facility may be drawn on as required from 1 January 2011.
The lender is Shejk Mohammed H. Al Amoudi who is also a shareholder in Moberg Derma, with a 2.5% holding. Västra Hamnen Fondkondkommission AB has acted as consultant to Shejk Mohammed H. Al Amoudi.
“Through the credit facility, we have secured a further supply of capital that will enable us without compromise to continue our work of commercializing our medical products and maintain the development of the company’s important pharmaceutical projects”, comments Peter Wolpert, CEO, Moberg Derma.
During the year, Moberg Derma will launch two products. Emtrix™, which is used to treat nail diseases, and the Kaprolac® range of products, which are used for scalp and skin disorders such as eczema and dry skin.
Contact Moberg Derma
Peter Wolpert, President and CEO
Mobile: +46 70 - 735 71 35
About Moberg Derma
Moberg Derma AB, Stockholm, Sweden, develops and commercializes patented medical products for the treatment of skin disorders. The company focuses on innovative products based on proven compounds. Moberg Derma outlicenses product rights to partners and distributors while maintaining certain promotion rights. The company began operations at the Karolinska Institute in 2006. The principal owners are Östersjöstiftelsen (the Baltic Sea Foundation), private investors and management. For further information, please visit: www.mobergderma.se