Dyne Therapeutics Announces Expanded Debt Facility of Up To $400 Million with Hercules Capital, Inc.
Dyne Therapeutics amended its senior secured term loan facility with Hercules Capital to increase total capacity to $400 million, immediately funding $50 million in non-dilutive capital. The expansion adds $125 million in new borrowing capacity, split between a milestone-based tranche and a discretionary tranche, while keeping total current borrowings at $200 million. This financial flexibility is intended to support the advancement of DYNE-251 for Duchenne muscular dystrophy and DYNE-101 for myotonic dystrophy type 1 through upcoming clinical milestones and potential U.S.
Key figures
- Immediate funding
- $50 million
- Milestone tranche
- $50 million
- Current borrowings
- $200 million
- Remaining capacity
- $200 million
- Additional capacity
- $125 million
- Discretionary tranche
- $75 million
- Total facility capacity
- $400 million
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