Clene Announces Plan to Expand its Manufacturing Capacity of CNM-Au8, Closing of Up to $30 Million Debt Facility, and Financing Agreements for $9.25 Million At-the-Market Private Placement

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Clene Inc. (NASDAQ: CLNN) (along with its subsidiaries, “Clene”) and its wholly owned subsidiary Clene Nanomedicine, Inc., a clinical-stage biopharmaceutical company dedicated to the treatment of neurodegenerative disease using bioenergetic nanocatalysis, today announced that it is currently in negotiations to lease a 75,000 square foot facility in Elkton, Maryland, a few miles north of its current manufacturing site. Subject to the successful consummation of those negotiations, the site will be redeveloped to support Clene’s unique manufacturing needs; this redevelopment will enable the Company to materially increase its manufacturing capacity preparatory to the expected data release in H1 2022 from its Phase 3 registration trial evaluating CNM-Au8 as a treatment for amyotrophic lateral sclerosis (ALS).

Clene Nanomedicine Aims to be the ‘Gold Standard’ in Neurodegenerative Disease

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Clene Nanomedicine, one of Maryland’s Future 2020 companies, closed a merger with Tottenham Acquisition I Limited that provided the company with a slot on the Nasdaq Exchange and $3.19 million that will be used to advance the company’s gold nanocrystal-based treatment for neurodegenerative diseases.