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Edge to help fund EG1962 development through $10mm in Hercules debt; loan restated for up to additional $20mm

Executive Summary

Hercules Technology Growth Capital agreed to provide Edge Therapeutics Inc. (targeted drug delivery) with up to $10mm in venture debt financing, $3mm of which the biotech drew down up front. The remaining $7mm is available upon reaching milestones. The secured notes have a four-year term, and Edge is required to pay back interest only for the first 12 months, following by 30 equal monthly payments of principal plus interest.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
      • Site Specific
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Nonconvertible Debt

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