IBA raises 20 million euros

Radiopharmaceutical provider Ion Beam Applications (IBA) has received an infusion of capital worth 20 million euros.

The company raised 6 million euros through the issue of new equity for cash, 5 million euros through a reverse convertible bond, and 9 million euros through a new 12-year loan.

The financial support comes from Belgian investment firms Société Régionale d'Investissement de Wallonie (SRIW) and Société Fédérale de Participations et d'Investissement.

The proceeds will be used to repay an existing loan of 10 million euros owed to SRIW and the balance for general corporate purposes, including the development and launch of the company's ProteusOne compact proton therapy system.

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