- Scholar Rock (NASDAQ:SRRK) closed a $50M debt facility with Silicon Valley Bank and Oxford Finance; first $25M was funded at closing.
- Proceeds to be used for general corporate purposes, including the advancement of its pipeline and for pre-commercialization preparations.
- The second $25M tranche is available through December 31, 2021 upon dosing of the first patient in a Phase 3 trial for SRK-015 and dosing of the first patient in Part B of the DRAGON Phase 1 trial for SRK-181.
- Debt facility will mature on May 1, 2025; interest payments required only for first two years.