Humacyte, Inc., a Durham, N.C.-based clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale, closed a secured debt financing facility with Silicon Valley Bank for up to $50m, of which the first $20m was funded at closing.
Under the terms of the debt facility, Humacyte will have access to up to an additional $30m in three tranches contingent on the achievement of certain business and clinical development milestones. The debt facility will mature on March 1, 2025, with up to three total years of interest-only payments.
The company intends to use the financing to further strengthen its financial and operational flexibility as they advance their pipeline, prepare for near-term Phase 3 data readouts of potential first-in-class Human Acellular Vessels (HAVs) in arteriovenous vascular access and vascular trauma, and prepare to become a publicly traded company.
On February 17, 2021, Alpha Healthcare Acquisition Corp. (Nasdaq: AHAC), a special purpose acquisition company, and Humacyte announced the execution of a definitive business combination agreement along with a fully committed $175 million PIPE financing agreement.
Led by Laura Niklason, M.D., Ph.D., Chief Executive Officer, Humacyte develops and manufactures acellular tissues to treat a wide range of diseases, injuries and chronic conditions. Its initial opportunity, a portfolio of human acellular vessels (HAVs), is currently in late-stage clinical trials targeting multiple vascular applications, including vascular trauma repair, arteriovenous access for hemodialysis, and peripheral arterial disease. Pre-clinical development is also underway in coronary artery bypass grafts, pediatric heart surgery, treatment of type 1 diabetes, and multiple novel cell and tissue applications.
FinSMEs
14/04/2021