Engene announces expanded $50 million debt facility with hercules capital

Boston and montreal , dec. 22, 2023 /prnewswire/ - engene holdings inc. ("engene," nasdaq: engn), a clinical-stage genetic medicines company whose lead eg-70 program is in a pivotal study for bcg-unresponsive non-muscle invasive bladder cancer (nmibc), announced today that it has entered into an amended usd $50 million loan agreement (the "loan agreement") with hercules capital, inc. (nyse: htgc) ("hercules"). under the loan agreement, which has a term of four years, $22.5 million has been advanced to engene under a non-revolving term loan and, subject to certain clinical and financial milestones, up to a further $27.5 million in loan proceeds may be available subject to satisfaction of certain terms and conditions.
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