Achieve life sciences announces refinancing of outstanding loan with silicon valley bank

Seattle and vancouver, british columbia, may 17, 2023 (globe newswire) -- achieve life sciences, inc. (nasdaq: achv), a late-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, today announced the company has refinanced its previous debt agreement with silicon valley bank (svb), a division of first-citizens bank. the company and svb have entered into a new contingent convertible debt agreement which refinanced the outstanding loan and accrued interest balance of $16.6 million from its previous debt agreement entered into on december 22, 2021.
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