On­colyt­ic virus ex­perts at Replimune re­load with $200M loan as biotech col­lects clin­i­cal da­ta

A gen­er­al­ly gloomy pub­lic mar­ket hasn’t stopped biotechs with big clin­i­cal plans from rak­ing in the cash — ei­ther through stock of­fer­ings or loans.

Replimune is tak­ing the lat­ter route, ink­ing a deal to bor­row $200 mil­lion from Her­cules Cap­i­tal over the next five years in mul­ti­ple tranch­es.

For the biotech, the debt fi­nanc­ing will ex­tend its cash run­way in­to 2025 as it reads out two tri­als for its on­colyt­ic virus­es: CER­PASS tests RP1 in com­bi­na­tion with Re­gen­eron’s PD-1 Lib­tayo in cu­ta­neous squa­mous cell car­ci­no­ma, while IGNYTE fo­cus­es on melanoma pa­tients who’ve pre­vi­ous­ly failed PD-(L)1 ther­a­pies. In IGNYTE, Replimune looks at RP1 both as a monother­a­py and paired with Bris­tol My­ers Squibb’s Op­di­vo.

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