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Global Blood Therapeutics enters $150mm loan agreement; gets $75mm up front

Executive Summary

Global Blood Therapeutics Inc. (GBT) entered into a $150mm loan agreement with funds managed by Pharmakon Advisors. The company drew down $75mm immediately and can access the remaining $75mm at its option until December 31, 2020. The loan bears interest at a rate of 7.0% plus LIBOR and matures in December 2025. The money will help the company advanced its pipeline of treatments for sickle cell disease and other blood conditions, and will also support commercialization of its recently approved sickle cell therapy Oxbryta (voxelotor).
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Placement

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