Navidea Biopharmaceuticals Announces $50M Credit Facility with Platinum-Montaur Life Sciences

Navidea Biopharmaceuticals, Inc. NAVB today announced that Platinum-Montaur Life Sciences, LLC (Montaur) will provide Navidea a credit facility of up to $50 million. This transaction provides the Company with significant, yet flexible, financial resources to fund its development and growth plans. No draws are currently planned in connection with entering into this facility. Under the terms of the transaction, Montaur has committed to extend up to $15 million in debt, which is available immediately, to the Company at a prime-based interest rate currently at approximately 10 percent per annum. Montaur has committed an additional $20 million upon approval of Lymphoseek on consistent terms, with yet an additional $15 million potentially available on terms to be negotiated. No conversion features or warrants are associated with the facility.