Trellus Health (AIM:TRLS) has entered into a $260,000 unsecured loan agreement with Mount Sinai Health System, extending the group's cash runway to 31 July.
The AIM-listed company, which operates a digital platform combining data analytics and resilience programmes for patients with complex chronic conditions, said the loan carries an annual interest rate of 8%, accruing from 19 December and payable on maturity.
Repayment falls due at the earlier of 19 June 2027 or 90 days after the close of any sale of Trellus Health, the group's US operating subsidiary.
The board has engaged corporate restructuring advisors and is in active discussions over strategic options, including a possible sale of Trellus Health Inc.
The company cautioned that no certainty exists that further funding will be secured or any transaction concluded.
The next hard deadline for the company is 31 July, by which point the board must have secured additional funding or concluded a strategic transaction to avoid a further cash shortfall.
