Entero Therapeutics, Inc. announced on February 7, 2025, that it has secured a $2 million revolving loan agreement. This financing is intended to strengthen the company's balance sheet and provide working capital to support operations.
As a condition for the loan, Entero replaced three of its five Board of Directors members with new directors designated by the lender. Richard Paolone, Eric Corbett, and Manpreet Uppal joined the Board, following the resignations of James Sapirstein, Alastair Riddell, and Timothy Ramdeen.
The company stated that the new board members bring diverse expertise and leadership experience, which will be valuable as Entero continues to develop its gastrointestinal program. This capital infusion is crucial for bridging the company to the anticipated completion of a subsequent public offering.
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