Disc Medicine (IRON) said Friday it has obtained a $200 million term loan from Hercules Capital (HTGC).
The facility provides funding options to back the expected launch of a confirmatory study of bitopertin in erythropoietic protoporphyria, a phase 2 trial of DISC-0974 in anemia of myelofibrosis and a study in anemia of non-dialysis dependent chronic kidney disease, as well as a phase 2 trial of DISC-3405 in polycythemia vera, the company said.
The loan comprises up to four tranches, three of which can be drawn at the company's option and each maturing in November 2029, the company added.
Shares of Disc Medicine rose nearly 3%, while Hercules Capital shares were marginally higher.
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