Gene therapy biotech uses its manufacturing sites as collateral to net a $100M loan
Gene therapy biotech MeiraGTx is looking to get some quick cash and is putting up its manufacturing facilities to do it.
On Wednesday the company announced that it had clinched a loan with affiliates of Perceptive Advisors for up to $100 million, with the biotech getting $75 million upon closing.
According to CEO Alexandria Forbes, the biotech secured the capital by putting up its manufacturing facilities for collateral, which will extend the company’s cash runway for the next two years and into Q4 of 2024. The Sam Waksal-founded biotech intends to use the cash primarily to continue development of its pipeline, preclinical programs and technology platforms.
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