Iveric Bio has entered into debt financing for up to $250 million with Hercules Capital and Silicon Valley Bank, according to a press release.
Under the terms of the debt financing facility, Iveric is borrowing $50 million in July 2022, and $150 million will be available based on the achievement of milestones related to development and regulatory events for Zimura (avacincaptad pegol), which is under investigation for the treatment of geographic atrophy. Another $50 million will be made available subject to the lenders’ approval, according to the release.
“We are grateful to secure