Hercules Capital Provides Tricida with USD 100m Venture Debt Financing.
M2 PHARMA-March 6, 2018-Hercules Capital Provides Tricida with USD 100m Venture Debt Financing
(C)2018 M2 COMMUNICATIONS
- South San Francisco, California-based late-stage pharmaceutical company Tricida, Inc. has entered into a USD 100m venture debt facility with Hercules Capital, Inc. (NYSE: HTGC), the company said.
Tricida drew down USD 25m from the venture debt facility at closing. An additional USD 50m will be available for drawdown subject to the achievement of future milestones. The remaining USD 25m will be available for drawdown subject to approval by Hercules.
Hercules specializes in customising debt financing for companies in the life sciences and technology-related markets.
Privately-held Tricida is focused on the development and commercialization of its lead product candidate, TRC101, a non-absorbed, orally dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease (CKD).
The company has successfully completed a Phase 1/2 double-blind, placebo-controlled trial of TRC101 in CKD patients with metabolic acidosis, and recently completed enrollment in a pivotal Phase 3 clinical trial.
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|Date:||Mar 6, 2018|
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