Soleno Therapeutics Inc.
Soleno Therapeutics Announces $200 Million Debt Financing with Oxford Finance LLC
Summary
Soleno Therapeutics, Inc. announced on December 17, 2024, the execution of a loan and security agreement with Oxford Finance LLC for up to $200 million. The agreement provides for a secured term loan facility with an initial draw of $50 million. Additional tranches of up to $150 million may be drawn contingent on FDA approval and commercial milestones related to the company's lead candidate, DCCR for the treatment of Prader-Willi syndrome. The term loans have an interest-only period of 48 months and a total term of 60 months, with interest accruing at a floating rate. The financing is expected to provide additional support for the anticipated commercial launch activities.
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About Soleno Therapeutics Inc.
Soleno Therapeutics Inc. is a biopharmaceutical company dedicated to the development and commercialization of novel therapeutics for rare diseases. Its primary focus lies on the treatment of genetic disorders that have a significant medical need, such as Prader-Willi syndrome, a complex condition that affects the musculoskeletal and endocrine systems. Soleno is committed to pioneering advancements in the pharmaceutical industry by leveraging innovative approaches to drug development. The company's lead treatment candidate, rooted in addressing metabolic and neurobehavioral abnormalities, plays a critical role within its pipeline. Soleno's research and development efforts are concentrated on improving patient outcomes through therapies that target underlying disease mechanisms. Based in Redwood City, California, Soleno Therapeutics Inc. actively collaborates with scientific communities and healthcare providers to enhance its therapeutic offerings. In the financial market, Soleno Therapeutics is notably positioned as part of the healthcare and biotechnology sectors, reflecting its significance in developing treatments that can transform patient care and address unmet medical needs in niche and complex disease areas.
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