Neurelis completes $150 million senior term loan from OrbiMed

By Marisa Wong

Los Angeles, Aug. 11 – Neurelis, Inc. said it completed a senior term loan facility of up to $150 million from OrbiMed.

The $150 million of financing consists of a $65 million tranche A facility available at closing; an additional $35 million tranche B available at Neurelis’ option by March 31, 2022, subject to some conditions; and an additional up to $50 million tranche C that can be accessed by June 30, 2023, at OrbiMed’s option.

Loans may be used to support potential future strategic opportunities such as licensing opportunities, according to a press release.

San Diego-based Neurelis is a commercial-stage neuroscience company focused on the development and commercialization of therapeutics for the treatment of epilepsy and orphan neurologic disorders.

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