Armata signs $35 million credit agreement via Innoviva

By Wendy Van Sickle

Columbus, Ohio, March 4 – Armata Pharmaceuticals, Inc. entered into a secured credit agreement with Innoviva Strategic Opportunities LLC that provides for a $35 million secured term loan facility with an interest rate of 14% and a maturity date of June 4, 2025, according to a news release.

Proceeds will be used to advance the company’s lead therapeutic phage candidates, which target infections.

Repayment of the loan is guaranteed by the company’s domestic subsidiaries, and the loan is secured by substantially all of the assets of the company and the subsidiary guarantors.

With headquarters in Marina del Rey, Calif., Armata Pharmaceuticals is a clinical-stage biotechnology company focused on the development of precisely targeted bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections.

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