Intellia Therapeutics Secures Non-Dilutive Debt Facility with OrbiMed for up to $400 Million
Intellia Therapeutics (NTLA) secured a $400 million non-dilutive senior secured term loan facility with healthcare investment firm OrbiMed, with $75 million funded at closing. The remaining capital consists of five milestone-based tranches of up to $225 million tied primarily to lonvo-z progress, plus $100 million available only by mutual agreement over the facility's five-year term. Management framed the debt as funding the planned U.S. approval and commercial launch of lonvo-z in hereditary angioedema and advancing nex-z in transthyretin amyloidosis without equity dilution.
Key figures
- Structure
- non-dilutive senior secured term loan
- Facility size usd
- 400000000
- Facility term years
- 5
- Contingent tranche usd
- 100000000
- Milestone tranche count
- 5
- Initial tranche funded usd
- 75000000
- Milestone tranches max usd
- 225000000
AI analysis
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