Insuline CEO Ron Nagar: The investment agreement we have signed allows financing flexibility for business needs ahead of our rapid entry into Germany.
InsuLine Medical Ltd. (TASE: INSL) has signed an investment agreement with Yorkville Advisers LLC for up to $10 million using the REPA mechanism. Insuline develops, produces and markets technologies and products for improve the effectiveness of the insulin injected into diabetes patients.
REPA allows ongoing financing in exchange for shares at a pre-agreed price thus not creating pressure on the share price.
Insuline CEO Ron Nagar said, "The investment agreement we have signed allows the company financing flexibility for its business needs ahead of its rapid entry into Germany and due to its non-binding memorandum of understanding with Johnson & Johnson to distribute the InsuPad device."
Published by Globes [online], Israel business news - www.globes-online.com - on September 11, 2013
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