Annexon, a biopharmaceutical company advancing the next generation platform of targeted immunotherapies for multiple neuroinflammatory diseases that impact nearly 10 million people worldwide, entered into a strategic credit facility agreement with Oxford Finance for up to $200 million.
“This strategic facility enhances our financial and operational capabilities as we prepare for the potential global commercialization of vonaprument and tanruprubart, which combined have the potential to reach millions of patients worldwide,” Douglas Love, president and CEO of Annexon, said. “Access to this non-dilutive capital further diversifies our capital structure, strengthens our balance sheet, and accelerates our near and long-term growth strategy.”
Kirk Andrews, managing director of Oxford Finance, added, “Annexon is advancing a differentiated approach to complement-driven neuroinflammatory disease with two programs approaching registration. We are pleased to provide a milestone-based financing facility that reflects our confidence in Annexon’s strategy, execution and ability to advance vonaprument and tanruprubart through key value-driving milestones in support of patients globally.”
Under the terms of the agreement, Annexon drew an initial $50 million at closing. An additional $100 million will become available upon the company’s achievement of certain milestones related to its vonaprument and tanruprubart registrational programs, with the remaining $50 million available subject to lender approval.
