MetrioPharm AG, a pharmaceutical company developing drugs against inflammatory diseases, announces that two convertible loans granted by shareholders in the total amount of CHF 18.5 million have been converted to equity. In addition, the equity was increased by a further CHF 9 million through the exercise of subscription rights in two cash capital increases. In total, these capital measures lead to a strengthening of MetrioPharm AG’s equity by CHF 27.5 million.
MetrioPharm’s Chief Executive Officer (CEO) Thomas Christély commented: “We thank our shareholders for their confidence in the company’s drug development through the conversion of the loans and the further cash capital increases. The inflow of liquidity will be used to fund the ongoing Phase II trial in COVID-19 as well as preclinical studies in other indications.”