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.