ASLAN Pharma Secures Debt Funding Of $45M To Support ASLAN003 Development

ASLAN Pharmaceuticals (NASDAQ:ASLN) has closed a secured loan facility provided by K2 HealthVentures (K2HV).
Under the terms of the facility, K2HV will provide ASLAN up to $45 million of secured debt financing consisting of a $20 million initial term loan funded at closing, with the remaining $25 million subject to specific terms and conditions.
Proceeds will be used to advance the clinical development of ASLAN003 in autoimmune gastrointestinal and skin diseases and general corporate purposes.
ASLAN expects to initiate a Phase 2 clinical trial for ASLAN003 in inflammatory bowel disease in early 2022.
Price Action: ASLN shares are down 0.32% at 3.11 during the premarket session on the last check Tuesday.

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