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home / news releases / ONCR - Oncorus inks ~$45M loan facility with K2 HealthVentures; to move HQ to Andover

ONCR - Oncorus inks ~$45M loan facility with K2 HealthVentures; to move HQ to Andover

Oncorus Inc.
Viral immunotherapies company Oncorus (NASDAQ:ONCR) said on Tuesday that it entered a loan and security agreement with K2 HealthVentures, a healthcare focused specialty finance company. Agreement provides Oncorus with up to $45M in multiple tranches upon the achievement of certain milestones, with an initial tranche of $20M funded at closing. Oncorus plans to use proceeds of of the initial tranche to support completion of a manufacturing facility in Andover, Massachusetts, to advance its pipeline, including clinical development of its viral RNA/lipid nanoparticle product candidate ONCR-021. The company also said it is planning to relocate its corporate headquarters to the Andover facility in Q4. As a result of the term loan facility, operations relocation, and other initiatives aimed at efficiency, Oncorus now expects its cash runway to fund operations into early 2024.

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Oncorus inks ~$45M loan facility with K2 HealthVentures; to move HQ to Andover
Stock Information
Company Name: Oncorus Inc.
Stock Symbol: ONCR
Market: NASDAQ
Website: oncorus.com
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