(MENAFN - Investor Brand Network) Clene (NASDAQ: CLNN)
has announced a $10 million debt facility with three affiliated entities, set to close by December 20, 2024. The 18-month secured, partially convertible note carries a 12% fixed interest rate, with an interest-only period for the first year. Sixty-five percent of the note is convertible into common stock at $5.67 per share, a 130% premium over the stock's signing day closing price. Proceeds will support Clene's development of its CNM-Au8 treatment for ALS and neurodegenerative diseases, addressing FDA data requirements for regulatory approval. The company also aims to repay its prior $7.9 million Loan Agreement with Avenue Venture Opportunities Fund.

To view the full press release, visit

About Clene Inc.

Clene (along with its subsidiaries,"Clene") and its wholly owned subsidiary Clene Nanomedicine Inc., is a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, including amyotrophic lateral sclerosis, Parkinson's disease and multiple sclerosis. CNM-Au8(R) is an investigational first-in-class therapy that improves central nervous system cells' survival and function via a mechanism that targets mitochondrial function and the NAD pathway while reducing oxidative stress. CNM-Au8(R) is a federally registered trademark of Clene Nanomedicine, Inc. The company is based in Salt Lake City, Utah, with R&D and manufacturing operations in Maryland. For more information, please visit
.

NOTE TO INVESTORS:
The latest news and updates relating to CLNN are available in the company's newsroom at

About BioMedWire

BioMedWire
("BMW") is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed) and Life Sciences sectors. It is one of 70+ brands within the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, BMW brings its clients unparalleled recognition and brand awareness.

BMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from BioMedWire,"Biotech" to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published:
/Disclaimer

BioMedWire
San Francisco, CA

415.949.5050 Office
[email protected]

BioMedWire is powered by
IBN

MENAFN19122024000224011066ID1109013281

COMTEX_461048471/2604/2024-12-20T02:10:35