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Oxford Finance Provides $50 Million Credit Facility to Kezar Life Sciences, Inc.
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Rhea-AI Summary
Kezar Life Sciences has closed a $50 million senior secured term loan with Oxford Finance LLC. The funds will be utilized for general growth capital and to advance clinical candidates KZR-616 and KZR-261. The financing aims to strengthen Kezar's balance sheet and support the ongoing development of its innovative therapies targeting immune-mediated and oncologic disorders. The company anticipates top-line data readouts for KZR-616 in Q2 2022, enhancing its prospects in the competitive biopharmaceutical landscape.
Positive
Secured $50 million senior loan, providing non-dilutive financing.
Funding will advance clinical programs KZR-616 and KZR-261.
Strengthens balance sheet ahead of key data readouts for KZR-616 in Q2 2022.
Negative
None.
Kezar is a biopharmaceutical company committed to developing breakthrough treatments for immune-mediated and oncologic disorders.
ALEXANDRIA, Va. & SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $50 million senior secured term loan with Kezar Life Sciences, Inc. (NASDAQ: KZR) (“Kezar” or “the Company”), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders.
Proceeds from the transaction will be used for general growth capital and for further advancement of the Company’s clinical candidates, KZR-616 and KZR-261.
Founded in 2015, Kezar uses cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders – with the hope of helping people overcome their disease and live a better life. The Company is pioneering first-in-class, small molecule therapies that harness master regulators of cellular function to inhibit multiple drivers of disease via single, powerful targets.
“Kezar is led by a highly skilled management team with extensive, scientific expertise in immunology and oncology. The Company is positioned to tackle the toughest diseases through innovative small molecule therapies that unlock the potential for profound therapeutic benefits,” said Christopher A. Herr, senior managing director at Oxford. “Oxford is proud to support a company dedicated to providing a new, hopeful approach to those affected by autoimmune disease and cancer.”
“This non-dilutive strategic financing, together with our current cash, strengthens our balance sheet as we advance our clinical programs and overall platform for patients affected by a range of immune-mediated and oncologic diseases,” said Marc Belsky, chief financial officer of Kezar Life Sciences. “Importantly, this facility provides us with greater financial and operational flexibility as we approach top-line data readouts for KZR-616 in the second quarter of 2022.”
About Oxford Finance LLC Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $7 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
About Kezar Life Sciences, Inc. Kezar Life Sciences is a clinical-stage biopharmaceutical company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function to inhibit multiple drivers of disease via single, powerful targets. KZR-616, its lead asset, is a selective immunoproteasome inhibitor being evaluated in Phase 2 clinical trials in lupus nephritis, dermatomyositis, and polymyositis. Additionally, KZR-261, is the first anti-cancer clinical candidate from the company’s platform targeting the Sec61 translocon and the protein secretion pathway. An open-label dose-escalation Phase 1 clinical trial of KZR-261 to assess safety, tolerability and preliminary tumor activity in solid tumors is underway. For more information, visit www.kezarlifesciences.com.
