Soleno Therapeutics Enters Into $200 Million Debt Financing with Oxford Finance LLC

Core Insights - Soleno Therapeutics has secured a financing agreement for up to $200 million, which includes an initial draw of$50 million [1][3] - The financing is aimed at strengthening the company's financial position and supporting anticipated commercial launch activities for its lead candidate, DCCR [2][5] - The loan agreement includes conditions for additional funding based on FDA approval and commercial milestones related to DCCR [3] Financial Details - The initial draw of $50 million increases Soleno's pro-forma cash, cash equivalents, and marketable securities to$334.7 million as of September 30, 2024 [4] - The loan has an interest-only period of 48 months and a total term of 60 months, with potential extensions based on milestone achievements [3] Company Overview - Soleno Therapeutics focuses on developing novel therapeutics for rare diseases, with its lead candidate DCCR currently under FDA review and granted Priority Review status [5] - Oxford Finance LLC, the financing partner, specializes in providing senior secured loans to life sciences and healthcare companies [6]