Daily News: September 29, 2017

MidCap Financial Extends Aptevo Cash Runway $20 Million

Aptevo Therapeutics amended the terms of a credit agreement with MidCap Financial Trust, enabling the company to retain the $20 million first tranche and canceling the option for a $15 million second tranche.

“We are pleased to continue our relationship with MidCap Financial,” said Jeff Lamothe, CFO. “They are a knowledgeable partner who understands the life sciences sector and we appreciate their continued interest in and commitment to our business. Since our inception, we have sought to ensure that Aptevo is solidly capitalized to invest in the opportunities where we see the most potential for long-term value creation for our stockholders – namely by advancing a pipeline of innovative bispecific therapeutic antibodies derived from our proprietary ADAPTIR platform and continuing to expand market share for our IXINITY Hemophilia B commercial product. With MidCap’s continued support, we have extended our cash runway to further these goals.”

Aptevo Therapeutics is a clinical-stage biotechnology company focused on oncology and hematology therapeutics.