Replimune Secures $200 Million in Non-Dilutive Debt


WOBURN, Mass., Oct. 07, 2022 (GLOBE NEWSWIRE) — Replimune Group, Inc. (NASDAQ: REPL), a medical stage biotechnology firm pioneering the event of a novel class of tumor-directed oncolytic immunotherapies, as we speak introduced that it has obtained a $200 million non-dilutive time period mortgage facility from Hercules Capital, Inc. (NYSE:HTGC), a pacesetter in personalized debt financing for firms in the life sciences and technology-related markets. This non-dilutive capital extends money runway into 2025 forward of key catalysts from the Company’s registration-directed CERPASS and IGNYTE trials in cutaneous squamous cell carcinoma (CSCC) and anti-PD1 failed melanoma inclusive of the prices of funding business infrastructure and the operating of a confirmatory research to assist a possible BLA submitting in anti-PD1 failed melanoma.

“This non-dilutive financing option provides Replimune with significant flexibility as we prepare for key RP1 skin franchise data catalysts and related commercial preparations of our novel tumor-directed oncolytic immunotherapies as well as the advancement of RP2/3 into Phase 2 studies,” mentioned Jean Franchi, Chief Financial Officer of Replimune. “Not only does this non-dilutive financing strengthen what we believe to be an already strong financial position, it creates optionality in future capital formation and enables us to choose when, and to what extent, we access available funding in order to help manage future cost of capital and dilution.”

“Hercules strives to align with some of the best and brightest companies in the life sciences industry to provide them with long-term capital commitments to help them achieve their ambitious goals. We are excited to collaborate with Replimune and their team ahead of numerous data, regulatory, and commercial milestones,” mentioned Bryan Jadot, Senior Managing Director and Group Head at Hercules Capital.

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The mortgage facility consists of as much as six tranches, 5 of which may be drawn at Replimune’s choice and every maturing in October 2027. The mortgage facility supplies for not less than 48-months of interest-only at shut, which interest-only interval may be prolonged as much as 60 months upon satisfaction of sure milestones. An preliminary $30 million tranche was funded at closing with a further $30 million obtainable to be drawn at Replimune’s choice previous to September 30, 2023. An further $115 million is out there topic to the Company’s achievement of specified efficiency milestones referring to medical, regulatory, and business occasions. The last $25 million tranche is out there for draw, at Replimune’s choice and topic to Hercules consent throughout the interest-only interval.

Armentum Partners acted because the Company’s unique monetary advisor on this transaction.

Additional particulars of the mortgage settlement will likely be filed with the Securities and Exchange Commission on a Current Report on Form 8-Ok.

About Replimune
Replimune Group, Inc., headquartered in Woburn, MA, was based in 2015 with the mission to remodel most cancers therapy by pioneering the event of novel tumor-directed oncolytic immunotherapies. Replimune’s proprietary RPx platform is predicated on a potent HSV-1 spine with payloads added to maximise immunogenic cell demise and the induction of a systemic anti-tumor immune response. The RPx platform has a novel twin native and systemic mechanism of motion (MOA) consisting of direct selective virus-mediated killing of the tumor ensuing in the discharge of tumor derived antigens and altering of the tumor microenvironment (TME) to ignite a powerful and sturdy systemic response. This MOA is predicted to be synergistic with most established and experimental most cancers therapy modalities, and, with a pretty security profile the RPx platform has the flexibility to be developed alone or mixed with quite a lot of different therapy choices. For extra info, please go to

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Forward-Looking Statements
This press launch incorporates forward-looking statements throughout the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, together with statements concerning the energy of our monetary place, our expectations about our money runway, the design and development of our medical trials, the timing and sufficiency of our medical trial outcomes to assist potential approval of any of our product candidates, our objectives to develop and commercialize our product candidates, affected person enrollments in our present and deliberate medical trials and the timing thereof, and different statements recognized by phrases akin to “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or related expressions and the negatives of these phrases. Forward-looking statements will not be guarantees or ensures of future efficiency, and are topic to quite a lot of dangers and uncertainties, lots of that are past our management, and which might trigger precise outcomes to vary materially from these contemplated in such forward-looking statements. These elements embrace dangers associated to our restricted working historical past, our means to generate optimistic medical trial outcomes for our product candidates, the prices and timing of working our in-house manufacturing facility, the timing and scope of regulatory approvals, adjustments in legal guidelines and rules to which we’re topic, aggressive pressures, our means to determine further product candidates, political and world macro elements together with the impression of the coronavirus as a worldwide pandemic and associated public well being points, and different dangers as could also be detailed every so often in our Annual Reports on Form 10-Ok and Quarterly Reports on Form 10-Q and different stories we file with the Securities and Exchange Commission. Our precise outcomes might differ materially from the outcomes described in or implied by such forward-looking statements. Forward-looking statements communicate solely as of the date hereof, and, besides as required by legislation, we undertake no obligation to replace or revise these forward-looking statements.

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Investor Inquiries
Chris Brinzey
ICR Westwicke

Media Inquiries
Lissette Steele
Verge Scientific Communications
202.930.4762 x 409 

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