Gelteq Limited (NASDAQ: GELS) announced it secured strategic debt financing of up to $3.5 million to advance commercialization and clinical trial activities, according to a company statement.

The Melbourne-based biotechnology company will receive $1 million upon closing, with an additional $2.5 million available pending shareholder approval expected in June 2026. The financing includes no repayments for at least six months from closing.

Gelteq plans to use the proceeds to scale clinical trial programs for its pharmaceutical products and expand commercialization of its nutraceutical products. The company develops a drug delivery platform using ingestible gel technology designed to improve how active ingredients are formulated and absorbed.

"This debt financing marks an important step forward in advancing our commercial strategy," said Nathan Givoni, CEO of Gelteq. "With additional growth capital now secured, we believe we are well-positioned to accelerate our clinical programs, scale operations, and drive broader market adoption of our Gelteq technology."

The company operates in pharmaceutical, consumer health and animal health markets, focusing on research and development, product creation and manufacturing for partners. Its proprietary Gelteq technology aims to address challenges in conventional drug and nutrient delivery by enhancing bioavailability and enabling precise dosing.