Annexon secures $200 million credit facility to fund pipeline
The biotechnology company drew an initial $50 million from a new strategic credit agreement with Oxford Finance LLC.
Annexon (ANNX), the biotechnology company, entered into a new strategic credit facility with Oxford Finance LLC for up to $200 million.
The agreement provides the company with a structured capital infusion tied to the development of its clinical pipeline. Annexon drew an initial $50 million at the closing of the facility.
An additional $100 million of the facility is tied to specific milestones for vonaprument and tanruprubart. The remaining $50 million is subject to lender approval.