Humacyte, Inc. entered into a $77.5 million credit facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group. The facility provides an initial $40 million tranche that was fully funded at closing, with two additional tranches totaling $37.5 million available under specified revenue, regulatory, and liquidity conditions. The agreement carries a four‑year term and a staged funding structure that gives Humacyte flexibility to draw on additional capital as it scales its Symvess product and advances its dialysis and coronary pipelines.
The company will use the proceeds from the initial tranche primarily to retire existing debt, reducing leverage and improving its balance‑sheet profile. The debt repayment is expected to free up cash flow that can be redirected toward product commercialization and clinical development, supporting the company’s long‑term growth strategy.
In the most recent quarter, Humacyte reported a net loss of $17.5 million, a significant improvement from the $39.2 million loss reported in the same quarter of 2024. Revenue for the quarter rose to $753,000 from $100,000 in the prior quarter, reflecting early sales of Symvess and incremental pipeline activity. The financing provides a critical buffer as the company continues to invest heavily in research, regulatory milestones, and market expansion.
Symvess, an acellular tissue‑engineered vessel, received FDA approval in December 2024 for treating vascular trauma. Humacyte plans to expand Symvess use in 2026, release interim results from its V012 Phase 3 dialysis trial, and launch the first human study of its coronary tissue‑engineered vessel (CTEV) in coronary bypass graft surgery. The credit facility underpins these initiatives by ensuring sufficient liquidity to support commercialization and clinical milestones.
CFO Dale Sander said the facility “allows us to retire our existing indebtedness while providing the opportunity for additional non‑dilutive financing in the future.” He added that the company is “excited about 2026, including expanded use of Symvess in the U.S. and international markets, interim results from our V012 Phase 3 trial in dialysis, and the commencement of the first human study of our coronary tissue‑engineered vessel.”
Investors have responded cautiously, citing high valuation multiples, but the financing signals confidence in Humacyte’s future growth prospects and its ability to navigate current cash‑burn challenges.
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