Natera, a provider of non-invasive genetic testing and analysis of circulating cell-free DNA, entered into a credit agreement with OrbiMed Royalty Opportunities II as the lender.

The credit agreement provides for a $100 million senior secured term loan facility, subject to certain terms and conditions as set forth therein, of which $75 million was provided to Natera on August 8, 2017, with the additional $25 million to be provided to Natera upon request no later than December 31, 2018.

The loans are to be used by Natera for general corporate purposes.

The loans must be repaid on August 8, 2024 and will bear interest at a rate per annum equal to the sum of (i) 8.75% plus (ii) the higher of (x) LIBOR for such interest period and (y) 1.00.

Natera’s obligations are secured by substantially all of its assets, including its intellectual property, subject to certain customary exclusions.