Outset Medical entered into two senior secured credit facilities with investment affiliates managed by SLR Capital Partners, which collectively provide for borrowings of up to $300 million, comprising up to a $250 million term loan facility and up to a $50 million asset-based revolving credit facility.
Kin, a direct-to-consumer home insurance company, closed a $145 million committed credit facility. The new facility, which was led by Runway Growth Capital and the Avenue Venture Opportunities Fund, provides Kin with additional capital to support the expansion of the Kin Interinsurance Network.
PROCEPT BioRobotics, a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, entered into a five-year $52 million loan arrangement with CIBC Innovation Banking.
Replimune Group, a clinical stage biotechnology company pioneering the development of a novel class of tumor-directed oncolytic immunotherapies, obtained a $200 million non-dilutive term loan facility from Hercules Capital.
Spectrum Pharmaceuticals, a biopharmaceutical company focused on novel and targeted oncology therapies, entered into a five-year debt financing agreement with investment affiliates managed by SLR Capital Partners for a term loan facility of up to $65 million.
Alladapt Immunotherapeutics, a private, clinical-stage biopharmaceutical company developing prescription therapeutics to address IgE-mediated food allergy, entered into a term loan agreement for up to $50 million with Hercules Capital.
Silk Road Medical, a company focused on reducing the risk of stroke, entered into a five-year loan arrangement with Oxford Finance comprising up to a $200 million term loan and up to a $50 million revolving line of credit.
Treace Medical Concepts entered into a new five-year, $150 million loan arrangement with MidCap Financial. The loan consists of up to $120 million in term loans and a $30 million revolving credit facility.
Phathom Pharmaceuticals, a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, obtained a $200 million term loan facility from Hercules Capital.
SCYNEXIS secured a $60 million term loan facility with Hercules Capital and Silicon Valley Bank. The capital strengthens SCYNEXIS’ balance sheet ahead of the anticipated commercial launch of Brexafemme, an oral antifungal product for the treatment of vaginal yeast infections.