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HEMOSOL DEFAULTS ON INTEREST PAYMENT
Hemosol Corp. (HML.TO: Quote, Profile, Research) has defaulted on an interest payment under a credit facility, the Canadian biotech firm said on Tuesday. The move comes after the developer of blood-related proteins cut two-thirds of its staff last month to save cash as it seeks a financial lifeline. "Hemosol requires additional capital to continue as a going concern and is in discussions with its secured creditors with respect to its current financial position," the company said in a statement on Tuesday.
KEYWORDS FDAnews Drug Daily Bulletin
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