Envoy Therapeutics Secures Convertible Loan from Takeda Research Investment

After completing a $8m equity financing, Envoy Therapeutics, Inc., a Jupiter, FL-based drug discovery company, has secured a convertible loan from Takeda Research Investment, the corporate venture arm of Takeda Pharmaceutical Company Limited (TPC).
According to an official statement, Envoy Therapeutics may convert the loan into preferred stock should the company complete a second private equity financing. The company will give Takeda Research Investment rights related to a specific therapeutic field while scientists at the two companies will work in cooperation.
Envoy will use funds, along with the proceeds from the above mentioned $8m financing, to discover new treatments for neurological and psychiatric diseases.



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