Hercules Capital (HTGC) is providing up to $165 million in non-dilutive financing to Beren Therapeutics as part of a $300 million funding package aimed at supporting the potential launch of adrabetadex, Beren Therapeutics said Wednesday.
The financing includes up to $110 million in milestone-based senior-secured term loans and a $55 million royalty agreement contingent on FDA approval.
Beren said the funds will support launch preparations ahead of its Nov. 17 PDUFA date for adrabetadex in infantile-onset Niemann-Pick disease type C, along with patient access and long-term support initiatives.
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