Taysha Gene Therapies Secures Up to $ 100 Million in Non-Repayable Term Loan Financing | Business



DALLAS – (BUSINESS WIRE) – August 16, 2021

Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centered, specializes in the development and commercialization of AAV-based gene therapy for the treatment of monogenic central nervous system diseases in both rare and large patient populations. that he entered into a loan and security agreement with Silicon Valley Bank (SVB) that gives Taysha the ability to borrow up to $ 100 million.

“Access to this non-dilutive financing at an attractive cost of capital, along with current cash, will provide Taysha with the operational and financial flexibility to achieve many milestones, including potential regulatory approval for the TSHA-120 in giant axonal systems. neuropathy, or GAN, ”Taysha CEO said in the second session of the RA. “Additional milestones include the publication of phase 1/2 data in the highest dose cohort in the GAN and phase 1/2 data for GM2 gangliosidosis, Rett syndrome, CLN1 disease, and SURF1-associated Lee syndrome. We are delighted to partner with SVB as we continue to deliver on our ambitious business plan. ”

This non-dilution funding provides Taisha with up to $ 100 million, at which $ 40 million will be available, of which Taisha raised $ 30.0 million. The company has the right to use the remaining tranches subject to certain conditions. The interest rate is greater than 7.0% or WSJ Prime Rate plus 3.75%. There are no financial obligations and guarantees related to the loan term.

“Our financial commitment to Taysha speaks volumes about our confidence in its core strategies and aligns with our support for innovative life sciences businesses,” said Michael White, head of business development, life sciences and health, Silicon Valley Bank. “We are delighted to provide the Company with additional capital to further advance its sustainable development and achieve key value creation indicators in the coming years.”

“Over the past 12 months, we have rapidly moved from a private to a public company and from preclinical to clinical to mainstream,” said Kamran Alam, Chief Financial Officer of Taysha. “Building on this momentum, we expect this non-dilution funding to position us well to maximize long-term shareholder value.”

About Taisha gene therapy

The mission of Taysha Gene Therapies (Nasdaq: TSHA) is to eradicate monogenic CNS disease. With our focus on drug development, we strive to quickly move our treatments from inpatient to inpatient. We have combined our team’s proven expertise in the development and commercialization of gene therapy drugs with the world-class UT Southwestern Gene Therapy Program to create an extensive AAV gene therapy pipeline targeting both rare and large market indications. Together, we are leveraging our fully integrated platform – the engine for potential new drugs – to dramatically improve patients’ lives. More information is available on the website www.tayshagtx.com

About Silicon Valley Bank

For nearly 40 years, the Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas quickly. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. By offering commercial, international and private banking services, SVB helps meet the unique needs of innovators. Find out more at svb.com

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “expects,” “intends,” “plans,” “future,” etc. expressions are intended to indicate forward-looking statements. Forward-looking statements include statements concerning or implying the potential of our candidate products to positively impact quality of life and change the course of disease in the patients we seek to treat, our research, development and regulatory plans for our candidate products, the expected use of proceeds from loans under a loan and collateral agreement, our ability to access the full $ 100 million potentially available under a loan and collateral agreement, and our ability to finance operations in the second half of 2023. Forward-looking statements are based on management’s current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and negatively from those expressed or implied in such forward-looking statements. Accordingly, these forward-looking statements are not guarantees of future results and you are cautioned not to place undue reliance on these forward-looking statements. The risks associated with our business are detailed in our Securities and Exchange Commission (“SEC”) filings, including our annual 10-K report for the year ended December 31, 2020 and our quarterly report on Form 10-Q for the quarter ended June 30, 2021, both are available on the SEC website at www.sec.gov… Additional information will be available in other documents that we file with the SEC from time to time. Such risks could be exacerbated by the impact of the COVID-19 pandemic. These forward-looking statements are valid only as of the date of this document, and we disclaim any obligation to update these statements, except as required by law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210816005185/en/

CONTACT: Contact person of the company:

Kimberly Lee, DO

Senior Vice President, Corporate Communications and Investor Relations

Taisha Gene Therapy

klee@tayshagtx.comMedia Contact:

Caroline Hawley

Canale Communications




SOURCE: Taysha Gene Therapies, Inc.

Copyright by Business Wire 2021.

PUB: 08.16.2021 07:00 / DISK: 08.16.2021 07:02


Copyright by Business Wire 2021.


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