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Hercules Capital Provides Up to $100MM Credit Facility ChemoCentryx
Friday, January 10, 2020

Lenders/Participants Hercules Capital, Inc. [Lender]
Structure Senior Secured Credit Facilty
Amount $100.000 Million
Borrower(s) ChemoCentryx, Inc.
Description The $100 million credit facility from Hercules Capital comprises three tranches over the next two years to be drawn at ChemoCentryx’s discretion as follows: the first tranche of $40 million is available through December 2020, $20 million of which would be available upon the submission of the avacopan New Drug Application (NDA) for the treatment of ANCA vasculitis; the second tranche of $30 million is available through December 2021 upon NDA approval of avacopan for the treatment of ANCA vasculitis (NDA Approval); the remaining $30 million is available through December 2022, subject to certain conditions. The term loan has a 30-month interest-only period from initial funding, which is extendable up to 36 months upon the achievement of certain milestones and further extendable up to 48 months upon the achievement of additional milestones and matures in 48 months, further extendable to 60 months upon NDA Approval. Intended use of the capital is for the advancement of avacopan through its registration filings and commercial launch in ANCA vasculitis, if approved. Further information with respect to the growth capital financing agreement with Hercules will be contained on a Form 8-K to be filed by ChemoCentryx with the Securities and Exchange Commission. This financing agreement is in addition to the $20 million in financing that is currently outstanding with Hercules Capital.
Industry Biotechnology
Related Tags Hercules Capital

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