Humacyte, a commercial-stage biotechnology platform company, entered into a credit facility with Avenue Venture Opportunities Fund II, a fund of Avenue Capital Group, providing up to $77.5 million in principal amount of new financing. The credit agreement, which has a term of four years, includes an initial tranche of $40 million fully funded at close, and an additional two tranches of up to an aggregate of $37.5 million available to Humacyte, subject to the satisfaction of certain revenue, regulatory approvals, liquidity conditions and, in the case of the third tranche, lender approvals. Proceeds from the initial $40 million tranche have been used primarily to retire Humacyte’s existing debt facility.
“We are pleased to enter into this facility with Avenue as it allows us to retire our existing indebtedness while providing the opportunity for additional non-dilutive financing in the future,” Dale Sander, chief financial officer of Humacyte, said. “We are looking forward to an exciting 2026, including our plans for expanded use of Symvess within the U.S. and international markets, interim results from our V012 Phase 3 trial in dialysis, and commencement of the first human study of our coronary tissue engineered vessel (CTEV) in coronary bypass graft surgery.”
Chad Norman, senior portfolio manager of Avenue Venture Opportunities Fund, said, “We are excited to partner with Humacyte as it embarks on its next chapter of growth. Symvess is addressing significant patient needs and we are looking forward to supporting them in achieving success.”
