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Biome Australia Ltd ( (AU:BIO) ) has provided an update.
Biome Australia Limited has secured a $5.0 million debt facility with National Australia Bank (NAB) to accelerate its growth, replacing an existing facility with improved interest rates. The funding, divided into an Invoice Finance Facility and a Trade Finance Facility, will optimize inventory management and support both local and international business expansion, enhancing supply chain efficiencies and reducing costs. This strategic move, backed by NAB Health, underscores the bank’s confidence in Biome’s business model and its potential for international growth.
More about Biome Australia Ltd
Biome Australia Limited develops, licenses, commercializes, and markets innovative, evidence-based live biotherapeutics (probiotics) and complementary medicines, many of which are supported by clinical research. Founded in 2018 in Australia, Biome distributes its products locally and internationally, partnering with leading organizations in microbiome research to produce unique probiotic products under its flagship range, Activated Probiotics.
YTD Price Performance: -16.10%
Average Trading Volume: 456,934
Technical Sentiment Signal: Buy
See more data about BIO stock on TipRanks’ Stock Analysis page.