Regulus Therapeutics has amended its $14.7 million term loan with Oxford Finance.
The amendment provides the company with a new 12-month period of interest-only payments starting May 2019 and a two-year extension of its maturity date to May 2022. Upon the closing of the second tranche of the company’s recently announced private financing, the company will receive an additional twelve-month period of interest-only payments, commencing May 2020.
“This restructuring of our term loan, coupled with our recently announced private financing extends our cash runway and provides the necessary capital for Regulus to complete our phase 1 program for RGLS4326, pending FDA alignment on the re-initiation of the Multiple Ascending Dose study, as well as advancement of our pre-clinical programs targeting HBV and NASH,” said Jay Hagan, CEO of Regulus. “We appreciate the continued support of Oxford as we advance our pipeline of promising therapeutics.”
