aTyr Pharma entered into a $20 million credit facility with Silicon Valley Bank and Solar Capital. aTyr intends to use the additional capital to pay off existing indebtedness and for general corporate purposes to further aTyr’s mission to bring meaningful therapies to patients based on its understanding of Physiocrine biology.

“We believe that managing our cost of capital and creating funding opportunities with premier partners enables us to create more value for our stockholders and deliver on our promise to patients,” said John Mendlein, PhD, CEO of aTyr Pharma. “SVB and Solar Capital are top tier funding partners whose non-dilutive capital allows us to better manage our cash runway as we near critical inflection points for our lead candidate Resolaris for rare myopathies with an immune component and prepare for the clinical development of iMod.Fc for rare lung diseases.”

aTyr Pharma will receive $10 million after execution of the loan agreement and, under the terms of the agreement, two additional $5 million tranches will be available to the company, subject to the achievement of certain specified milestones.

aTyr Pharma is engaged in the discovery and clinical development of innovative medicines for patients suffering from severe rare diseases using its knowledge of Physiocrine biology, a newly discovered set of physiological modulators.