Viventia obtains $3.3 million in interim financing

By Jennifer Chiou

New York, Aug. 12 - Viventia Biotech Inc.'s board announced it has approved two interim bridge loans for $900,000 and $2 million from Leslie Dan, the company's chairman and an entity he controls.

The board also approved and authorized another interim bridge loan of $400,000 from Dan to fund operations.

Viventia obtained the $900,000 loan on July 26 and the $2 million loan on Aug. 3.

All loans are unsecured, have a 4.5% interest rate and are repayable at any time.

Based in Toronto, Viventia is a biopharmaceutical company that is developing Armed Antibodies, anti-cancer drugs.

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