Albireo Pharma agrees to terms with Hercules Capital on a debt facility to provide up to $80m of new capital, and will receive $15m under a restructured royalty monetization agreement with HealthCare Royalty Partners for elobixibat for chronic constipation in Japan, with initial draw down of $10m.
Under the updated terms of the agreement with HCR, the company will receive an additional $15m on top of the $45m royalty financing commitment HCR made in 2018.
“These funding arrangements with new and existing partners provide the company additional flexibility and cash runway into the beginning of 2022” said Ron Cooper, President and CEO of Albireo.
