Allergy Therapeutics PLC (AIM:AGY) has inked a new £10mln financing facility with its bank, Natwest, expanding upon a prior £7mln overdraft.
It is a three-year facility, expandable for another two years, and the company said it can provide additional security to its current credit facilities.
The company noted that its prior loans, held via its Spanish subsidiary, totalling £2.9mln remain in place.
Allergy Therapeutics shares rose strongly last week after US regulator The Food & Drug Administration gave the green light for trials to begin on its short-course peanut allergy vaccine candidate.