TuHURA Secures $50M Credit Facility with 12% Interest, Funds Trials Through 2028
TuHURA Biosciences secured a $50 million credit facility bearing 12% annual interest, repayable in five years, and collateralized by company assets. The agreement includes a low- to mid-single-digit royalty on IFx-2.0 sales and extends its cash runway into 2028, funding Phase 3 IFx-2.0 and TBS-2025 milestones.
1. Credit Facility Details
TuHURA entered a loan agreement with an affiliate of its largest stockholder, K&V Investment One LLC, providing up to $50 million in credit. The facility carries a 12% annual interest rate, allows monthly drawdowns and is secured by the company's assets with principal due April 21, 2031.
2. Royalty Transaction
Under the terms, TuHURA granted a low- to mid-single-digit percentage royalty on annual commercial sales of IFx-2.0 by the company or its sublicensees. This royalty applies only to products based on IFx-2.0 and aligns lender returns with future product success.
3. Cash Runway Extension
The combined credit facility and royalty structure extends TuHURA's cash runway into 2028, funding ongoing operations and development costs. Management expects this financing to cover key efficacy milestones for IFx-2.0 and TBS-2025 without issuing new equity.
4. Upcoming Milestones
TuHURA's lead IFx-2.0 program is progressing through a Phase 3 registration trial as adjunctive therapy to pembrolizumab in advanced Merkel Cell Carcinoma. The company also plans to advance TBS-2025 to Phase 1b/2 development and pursue additional corporate partnerships.