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X4 Pharmaceuticals has entered into a senior secured term loan facility of up to $150 million with K2 HealthVentures LLC, a move the company says will strengthen its financial flexibility as it advances its lead drug candidate toward a potential commercial launch.
The new agreement replaces a prior loan and provides the Boston-based firm with additional capital to support corporate activities and the development of mavorixafor for chronic neutropenia.
The first tranche of $80 million was funded at closing and used to repay all obligations under X4's previous loan and security agreement, including $75 million in principal and related fees.
An additional $70 million remains available to X4 upon request, subject to approval by K2 HealthVentures and other conditions.
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