Delcath Systems gets $20 million debt facility via Avenue Venture

By Marisa Wong

Los Angeles, Aug. 9 – Delcath Systems, Inc. said it entered into a debt facility with Avenue Venture Opportunities Fund, LP for up to $20 million with an initial $15 million funded at close.

“We are pleased to partner with Avenue Venture Fund ahead of major upcoming milestones,” chief executive officer Gerard Michel said in a press release.

“These loan facilities provide, at a low cost of capital, funding to support the planned filing of our NDA in early 2022 for the use of Hepzato in the treatment of hepatic-dominant metastatic ocular melanoma as well as expanding the development of Hepzato into additional areas of high unmet need.”

Delcath is a New York-based interventional oncology company focused on the treatment of rare primary and metastatic cancers of the liver.

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