Innocoll AG Secures EUR 25 Million Loan Commitment From European Investment Bank (EIB)

Innocoll AG INNL today announced the securing of a credit facility for up to €25 million ($27.5 million) of debt financing to support the expansion of the Company's manufacturing and research and development facility in Saal Germany and clinical development of the Company's lead product candidates, XaraColl®, Cogenzia® and CollaGUARD®. The debt financing, which Innocoll AG entered into together with its subsidiary, Innocoll Pharmaceuticals Limited, is provided by the European Investment Bank (EIB), the long-term lending institution of the European Union owned by its Member States, pursuant to the "InnovFin – EU Finance for Innovators" Midcap Growth Finance program under the European Union's Horizon 2020 research and innovation program. "The next 12-18 months is a critical period of execution for Innocoll," said Tony Zook, chief executive officer of Innocoll. "This funding will enable us to remain aggressive in our efforts to deliver on our key near term milestones, including the expansion of our manufacturing facility in Saal, Germany as well as the advancement of our late stage clinical development programs. We are pleased See full press release