Geron ups loan facility with Hercules, Silicon Valley to $125 million

By Wendy Van Sickle

Columbus, Ohio, June 30 – Geron Corp. expanded its loan facility with Hercules Capital, Inc. and Silicon Valley Bank to $125 million from $75 million, according to a news release.

Of the aggregate $125 million loan facility, $50 million is outstanding. The remaining $75 million is potentially available to Geron in four tranches.

The first tranche of $20 million is available until Sept. 15, 2023, subject to the achievement of certain clinical and financial milestones.

The second tranche of $10 million is available to the company through Dec. 15, 2023, subject to the achievement of certain clinical and regulatory milestones, and satisfaction of certain capitalization requirements.

The third tranche of $20 million is available to the company from Sept. 15, 2023 until Sept. 15, 2024, subject to the achievement of certain clinical and regulatory milestones, and satisfaction of certain capitalization requirements.

The final tranche of $25 million is available to the company through year-end 2024, subject to approval from the lenders.

Geron is a clinical stage biopharmaceutical company based in Menlo Park, Calif.

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