- Replimune Group ( NASDAQ: REPL ) has secured a $200M non-dilutive term loan facility from Hercules Capital.
- The loan facility consists of up to six tranches, five of which can be drawn at the company's option and each maturing in October 2027.
- An initial $30M tranche was funded at closing with an additional $30M available to be drawn at Replimune's option prior to Sep 30, 2023.
- An additional $115M tranche will be available upon the company's achievement of specified performance milestones relating to clinical, regulatory, and commercial events.
- The final $25M tranche is available for draw, at Replimune's ( REPL ) option and subject to Hercules consent during the interest-only period.
- The funding provides Replimune ( REPL ) with significant flexibility as it prepares for key RP1 skin franchise data catalysts and related commercial preparations of its novel tumor-directed oncolytic immunotherapies as well as the advancement of RP2/3 into Phase 2 studies.
For further details see:
Replimune secures $200M term loan