Atea Pharmaceuticals secures credit facility of up to $200 million from Hercules Capital
AVIR•Atea Pharmaceuticals secured a credit facility of up to $200 million from Hercules Capital, including $65 million at closing. The company expects its cash, investments and initial proceeds to fund planned operations into mid-2028.
1. Facility terms
Atea Pharmaceuticals secured a credit facility of up to $200 million from Hercules Capital, receiving $65 million at closing. Up to $35 million is tied to a clinical milestone, and up to $70 million is tied to regulatory, financing and commercial milestones. A further $30 million may be available at the borrower's request, subject to lenders' sole discretion.
2. Maturity and runway
The facility matures in 60 months and has a 48-month interest-only period, which can extend to 60 months upon achievement of a specified commercial milestone. Atea said its existing cash, cash equivalents and investments, together with initial proceeds, are expected to fund planned operations into mid-2028.
