Megan Holmes

Bucks County Biotech Firm Gets $3.9M Loan From Hong Kong Firm

Windtree Therapeutics Inc. announced Friday it will receive a $3.9 million loan from a Hong Kong-based investment holding firm as part of the Bucks County biotech company's financial restructuring plans.

The deal makes good on a goal of Windtree CEO Craig Fraser, who told the Business Journal in May he wanted to enter a partnership before the end of 2017 that would help the Warrington-based firm's Aerosurf product get to market.

Aerosurf is Windtree's lead drug-device combination and it's being developed to prevent respiratory distress syndrome in premature infants.

The $3.9 million loan from Lee's Pharmaceutical (HK) Limited, according to Windtree, will be dispersed in three equal monthly installments beginning with the first portion that was received on Aug. 15.

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