Humanigen receives $80 million loan facility from Hercules

Chicago, March 10 – Humanigen, Inc. has received an $80 million term loan from Hercules Capital, according to a press release.

The facility consists of a $25 million initial term loan. An additional $55 million is available for future draws subject to achievement of future milestones and satisfaction of other conditions.

The loan has a four-year tenor and an initial interest-only period.

Proceeds will be used to support the production of lenzilumab, a lead drug candidate, to strengthen the balance sheet and to increase the company’s financial flexibility.

Humanigen is a clinical stage biopharmaceutical company based in Burlingame, Calif.

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