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Sierra Oncology enters $15mm debt facility with SVB; draws down $5mm up front

Executive Summary

Sierra Oncology Inc. (developing cancer therapies that target the DNA Damage Response (DDR) network) entered a $15mm debt facility with Silicon Valley Bank. The company can borrow funds in $5mm tranches, the first of which was made available immediately and will support Sierra's acquisition of all rights to Gilead's myelofibrosis-related anemia candidate momelotinib. An additional uncommitted $25mm facility could be made available at a later date.
Deal Industry
  • Biotechnology
    • Antisense, Oligonucleotides
    • Large Molecule
    • Liposomes
  • Pharmaceuticals
    • Drug Delivery
      • Macromolecule
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

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