Finance

MicroIslet receives $2 million capital infusion from board chairman John J. Hagenbuch

Published in Health Business Week, February 16th, 2007

MicroIslet, Inc. (MII), a biotechnology company engaged in the development and commercialization of patented technologies in transplantation therapy for people with insulin-dependent diabetes, announced that the chairman of its board of directors, John J. Hagenbuch, has agreed to lend the company $2 million in cash.

The loan takes the form of a 1-year unsecured subordinated promissory note, which the company will be able to prepay anytime without penalty. Simple interest at the prime rate as published in the Wall Street Journal from time to time is due at maturity. In addition to the repayment terms, Hagenbuch will receive a 10-year warrant allowing purchase for...

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Source: Health Business Week (2007-02-16)

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