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Exicure Secures Debt Facility for Up to $25.0 Million
CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Exicure, Inc. (Nasdaq: XCUR), a pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical
About this update from Exicure, Inc.
[{"type":"text","content":" CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nExicure, Inc. (Nasdaq: XCUR), a pioneer in gene regulatory and immunotherapeutic drugs utilizing spherical nucleic acid (SNA™) constructs, today announced it has entered into a $25.0 million senior secured term loan with MidCap Financial Trust (MidCap), as agent, and Silicon Valley Bank (SVB).\n\nThe lenders under the debt facility have made available to Exicure an aggregate principal amount up to $25.0 million. Exicure has now received $17.5 million of proceeds and an additional $7.5 million can be drawn at Exicure’s discretion anytime between April 1, 2021 and September 30, 2021. The loan requires interest payments only for 24 months followed by 36 months of straight-line amortization after the interest only period.\n\n\"We believe this non-dilutive debt facility has enhanced Exicure’s financial flexibility,” said David Giljohann, CEO of Exicure. “We are grateful to MidCap and SVB for the confidence they have shown in our preclinical and clinical programs in neurology and oncology, and plan to use these funds for the ongoing execution and expansion of our pipeline,\" concluded Dr. Giljohann.\n\nAbout Exicure, Inc.\n\nExicure, Inc. is a clinical-stage biotechnology company developing therapeutics for neurology, immuno-oncology, inflammatory diseases and other genetic disorders based on our proprietary Spherical Nucleic Acid, or SNA technology. Exicure believes that its proprietary SNA architecture has distinct chemical and biological properties that may provide advantages over other nucleic acid therapeutics and may have therapeutic potential to target diseases not typically addressed with other nucleic acid therapeutics. Exicure is in preclinical development of XCUR-FXN, an SNA–based therapeutic candidate for the treatment of Friedreich’s ataxia (FA). Exicure's drug candidate AST-008 is currently in a Phase 1b/2 clinical trial in patients with advanced solid tumors. Exicure is based in Chicago, IL and in Cambridge, MA.\n\nFor more information, visit Exicure’s website at www.exicuretx.com.\n\nAbout MidCap Financial\n\nMidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to companies across all industries. MidCap is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles, and provides a broad array of products intend...