Ondine Biomedical, Inc. (GB:OBI) has released an update.
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Ondine Biomedical Inc. has announced that CEO Carolyn Cross provided the company with a C$285,000 loan for additional working capital, with no interest or set repayment terms. The funding from the founding shareholders, who own 49.5% of the company, is to support Ondine while it seeks longer-term financing, expected to be secured in Q4. Ondine specializes in photodisinfection technology and is moving towards regulatory approval for its Steriwave nasal photodisinfection system in the US.
For further insights into GB:OBI stock, check out TipRanks’ Stock Analysis page.
