08:52 AM EDT, 05/07/2025 (MT Newswires) -- Spectral Medical ( EDTXF ) , a late-stage theranostic company, on Wednesday said it entered into a senior secured promissory note with Vantive US Healthcare, of up to US$10 million.

Vantive may advance funds to Spectral in up to four separate tranches to support Spectral's continued evidence generation strategy and its way to commercialization of Toraymyxin (PMX). The company said PMX is a blood filtration therapy that removes endotoxin, associated with sepsis, from the bloodstream.

It added that first tranche of US$4 million payable to Spectral was triggered on May 6, upon the execution of the agreement.

Shares of the company closed down 2.4% to $0.81 on Tuesday on the Toronto Stock Exchange.