Techniclone secures cash to stabilise company
This article was originally published in Clinica
Techniclone, which is developing vasopermeation drug delivery technology, says that it has secured a total of $10 million in licensing deals and its existing credit line. This moves the Tustin, California company away from the qualified "going concern" statement from its auditor. This was to accompany its annual financial filing to the US Securities & Exchange Commission. The company says it has achieved financial stability and has paid off all past due balances, while having more than $12 million in the bank.