BerGenBio ASA and Meteva AS announced that they have entered into a shareholder loan facility, pursuant to which Meteva will make available to BerGenBio up to NOK 100 million. In addition to the cash position of NOK 225 million at the end of September 2022, this facility will enable BerGenBio to continue its previously announced focused strategy of advancing its lead compound bemcentinib in 1st line Non-Small Cell Lung Cancer (NSCLC) and
hospitalized COVID-19 patients. The facility will be available for use until the earlier of an equity issue or March 31, 2024, and contains customary covenants and event of default provisions. BerGenBio may, subject to certain conditions, draw on the facility from Second Quarter 2023. The facility will not be amortizing and any drawn amounts are to be repaid or converted to equity on or before December 31, 2024.