Edesa Biotech secures C$23M Canadian govt funding for EB05 Phase 3 ARDS study; CEO provides $10M credit facility

Edesa Biotech, Inc.

Government of Canada commits up to C$23M (US$17M) for Phase 3 study of EB05 (paridiprubart) in ARDS; C$5.75M non-repayable.
Remaining C$17.25M conditionally repayable starting 2029 based on revenue growth; max repayment 1.4x principal.
CEO Dr. Par Nijhawan provides $10M revolving credit facility, $3.5M immediate availability, at CIBC US Base Rate + 300bps, due March 31, 2026.
Project must be completed by Dec 31, 2025, exclusively in Canada; includes regulatory submissions and manufacturing scale-up.
Credit facility is a related-party transaction; borrowing base includes grant reimbursement and license fee receivables.

item 1.01 item 2.03 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Edesa Biotech, Inc. entered into Multi-Year Contribution Agreement with Government of Canada valued at up to CAD $23 million ($17 million USD) (effective 2023-10-12).

Action: entry
Counterparty: Government of Canada
Value: up to CAD $23 million ($17 million USD)
Effective: 2023-10-12

Exact text from the filing

On October 12, 2023, Edesa Biotech Research, Inc. (“Edesa Biotech Research”), a wholly owned subsidiary of Edesa Biotech, Inc. (the “Company”) and the Company, as guarantor, entered into a multi-year contribution agreement (the “Agreement”) with the Government of Canada.

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Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-108762

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