Humacyte, a clinical-stage biotechnology platform company, closed a secured debt financing facility with Silicon Valley Bank for up to $50 million, with the first $20 million funded at closing.
“This financing further strengthens Humacyte’s financial and operational flexibility as we advance the broad development of our pipeline, prepare for near-term Phase 3 data readouts of our potential first-in-class human acellular vessels in arteriovenous vascular access and vascular trauma, and prepare to become a publicly traded company,” Laura Niklason, M.D., Ph.D., CEO of Humacyte, said. “We are grateful for the support from SVB, who share our vision for the potential of Humacyte’s universally implantable regenerative human tissue to transform the way we care for patients.”
Under the terms of the debt facility, Humacyte will have access to up to an additional $30 million in three tranches contingent on the achievement of certain business and clinical development milestones. The debt facility will mature in March 2025, with up to three total years of interest-only payments.
“We’re proud to support Humacyte and the development of their human acellular vessels, a treatment which has the potential to bring life-changing solutions for patients affected by vascular degeneration,” Scott McCarty, director of life sciences and healthcare at Silicon Valley Bank, said. “We look forward to continuing our relationship with Humacyte as they scale and grow.”
In February, Alpha Healthcare Acquisition, a special purpose acquisition company, and Humacyte executed a definitive business combination agreement along with a fully committed $175 million PIPE financing agreement.
