Regenicin, Inc., a biotechnology company focused on developing regenerative cell therapies to restore the health of damaged tissues and organs, today announced the repayment of short-term secured loans totaling $242,993.54.
The company received these short-term loans from supporters of the company, including members of its board of directors, to finance operations. The repayment fully satisfied the terms of the loans, thereby releasing the company’s assets that were held as security.
The three board members who were reimbursed for their loan contributions were Dr. Craig Eagle, John Weber and Dr. Joseph Rubinfeld.
“The short-term loans extended to us were from people who genuinely want us to succeed in bringing new product candidates to market in the field of regenerative medicine,” stated Randall McCoy, CEO of Regenicin. “We are pleased to have the financial wherewithal to repay these valuable contributors and continue on our path to fulfill our business objectives.”
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