Hercules Capital, Inc. (NYSE: HTGC) announced on April 3, 2025, that it has entered into an agreement with MoonLake Immunotherapeutics for up to $500 million in non-dilutive capital. This significant financing aims to strengthen MoonLake's balance sheet and rapidly advance its sonelokimab program.
At the close of the agreement, $75 million was drawn down, with additional tranches becoming available upon the achievement of pre-specified milestones aligned with MoonLake's strategic and funding needs. This capital infusion is expected to remove any perceived financing overhang as MoonLake approaches pivotal data readouts.
Bryan Jadot, Group Head and Senior Managing Director at Hercules Capital, highlighted the company's commitment to empowering biotech firms as they progress from clinical trials to market success. This transaction underscores Hercules Capital's role as a leader in customized debt financing for life sciences companies.
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