Spectral Medical Receives US$3 Million From Vantive
TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late-stage theranostic company advancing therapeutic options for sepsis and septic shock, today announced that it has received the US$3 million Tranche B advance from Vantive US Healthcare LLC (“Vantive”) pursuant to the previously disclosed senior secured promissory note entered into in May 2025.
The Tranche B advance further strengthens Spectral’s balance sheet and will be used to support ongoing regulatory and commercialization preparations, as well as general working capital requirements. Spectral does not anticipate requiring any additional funding – beyond the fully drawn senior secured promissory note as previously disclosed – to meet its upcoming key milestones, including U.S. FDA submission, and through to PMX commercialization.
“We appreciate Vantive’s continued support and are pleased to have closed the Tranche B advance,” said Chris Seto, Chief Executive Officer of Spectral Medical. “This non-dilutive capital enhances our liquidity and provides additional flexibility as we execute on our regulatory pathway and commercialization plans. With this funding in place, we remain focused on operational priorities.”
Under the terms of the promissory note, Vantive may advance funds up to US$10 million to Spectral in up to four separate tranches to support Spectral’s continued evidence generation strategy and path to commercialization of Toraymyxin™ (“PMX”). With the US$3 million Tranche B advance, together with the initial US$4 million Tranche A advance, the current cumulative draw of the promissory note is US$7 million.
A copy of the Agreement has been filed under Spectral’s profile on SEDAR+ at www.sedarplus.ca.
finance.yahoo.com |
