Axcella Health restructures operations, will pay down loan with SLR

Chicago, Dec. 14 – Axcella Health Inc. is conducting a corporate restructuring, according to a press release.

The company has initiated a process to explore strategic alternatives and is working with an investment bank to act as a strategic adviser.

As part of the restructuring, the company reached an agreement with SLR Investment Corp. to pay down the debt obligations of its previous agreement.

According to the Prospect News archive, the company borrowed a $26 million term loan from SLR in September 2021.

The company is also reducing its workforce by 85%, retaining certain employees to execute the strategic process.

The company is generally going to be refocusing its programs, including reprioritizing long Covid fatigue and nonalcoholic steatohepatitis.

Based in Cambridge, Mass., Axcella is a clinical-stage biotechnology company.

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