Taysha Gene Secures $100M In Debt Financing For Support Pipeline Development

by Vandana Singh, Benzinga Editor

August 16, 2021 3:04 PM | 1 min read | Make a Comment

Taysha Gene Therapies Inc TSHA has entered into a loan and security agreement with Silicon Valley Bank (SVB), providing up to $100 million of borrowing capacity.
$40 million is available at closing, of which Taysha has drawn $30.0 million. The Company has the option to draw down the remaining tranches, subject to certain conditions.
The interest rate is higher than 7.0% or the WSJ Prime Rate plus 3.75%. There are no financial covenants and no warrants associated with the term loan.
The non-dilutive financing will support Phase 1/2 GAN data trial, data readouts in GM2 gangliosidosis, Rett syndrome, CLN1 disease, SURF1-associated Leigh syndrome, and regulatory approval TSHA-120 in GAN, without the need for additional financing.
Price Action: TSHA shares are down 5.93% at $16.35 on the last check Monday.

Posted In: Biotech News Health Care Financing Small Cap General Briefs

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