Tissue Regenix Group PLC (LON:TRX) said it now has a “cash runway” into August after receiving a further US$417,000 loan from the US government as part of the coronavirus support scheme.
The medical devices group, which has a significant American operation with base in San Antonio, Texas, has now been awarded over US$1mln as part of the business bail-out programme.
The funding comes with a two-year term and a 1% interest charge, deferred for six months.
However, the debt will be forgiven if it is used to support payroll, healthcare, utilities and rent payments within the States during the next two months.