<a href="https://laohu8.com/S/PGEN">Precigen</a> Secures Up to $125 Million Non-Dilutive Financing from Pharmakon Advisors to Boost PAPZIMEOS Commercialization Efforts
Precigen Inc., a biopharmaceutical company focused on innovative precision medicines, has announced a new credit facility agreement with investment funds managed by Pharmakon Advisors, LP. The agreement provides Precigen with up to $125 million in non-dilutive financing, structured across two tranches. The first tranche of $100 million has been funded at closing, while a second tranche of $25 million can be accessed at Precigen's discretion through March 31, 2027, subject to certain conditions. This financing aims to bolster Precigen's balance sheet, facilitating the US commercialization of their novel immunotherapy, PAPZIMEOS, and supporting potential expansion into international markets. The credit facility carries a variable interest rate of 6.50% plus the three-month secured overnight financing rate $(SOFR)$, with a SOFR floor of 3.75%. Evercore and Davis Polk LLP served as Precigen's financial and legal advisors, respectively, while Akin advised Pharmakon Advisors.
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