Savara Inc. entered into a loan and security agreement with Hercules Capital, Inc., providing access to up to $200 million in term loans. This financing strengthens the company's financial position following the submission of its Biologics License Application (BLA) for MOLBREEVI.
An initial tranche of $30 million was funded upon execution of the agreement, which will be used to repay the company's existing $26.5 million debt facility. An additional $100 million will become available upon FDA approval of MOLBREEVI and the achievement of certain other milestones.
The loan agreement has a maturity of five years, with a 36-month interest-only period that can be extended to 60 months upon achieving FDA approval for MOLBREEVI. This non-dilutive capital provides financial flexibility as Savara prepares for a potential commercial launch.
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