Zevra therapeutics refinances existing debt with up to $100m in committed capital under new credit facility

Celebration, fla., april 10, 2024 (globe newswire) -- zevra therapeutics, inc. (nasdaqgs: zvra) (zevra, or the company), a rare disease therapeutics company, today announced that it has entered into a new credit facility provided by leading biotech investors. led by perceptive advisors and healthcare royalty, the new credit facility provides up to $100m in committed capital in three tranches: an initial draw of $60m at closing, a second tranche of up to $20m available until october 5, 2025, and a third tranche of up to $20m which becomes available upon approval of arimoclomol, the company's product candidate for the treatment of niemann pick disease type c (npc), in each case subject to certain terms and conditions. as part of this transaction, the company has retired its combined existing debt of approximately $43.1m.
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