Restructured Venture Debt Financing for Expansion and Advancement of Gene Therapy Pipeline
uniQure N.V. , a leader in human gene therapy, today announced the closing of an additional $10 million venture debt loan with Hercules Technology Growth Capital, Inc. (HTGC), increasing the total loan amount to $20 million including the initial $10 million that uniQure announced in July 2013.
“The expansion of our original agreement with Hercules and its restructuring to incorporate further beneficial terms for uniQure provide us with greater balance sheet strength and flexibility. We will devote our additional capital both to rapidly advancing our pipeline and to accessing early-stage opportunities that will leverage our gene therapy platform and manufacturing expertise,” commented Jörn Aldag, uniQure Chief Executive Officer. “Accessing the best third party programs in early development enables us to further expand our high quality pipeline, sustaining the Company’s leadership position in gene therapy.”
The initial agreement with HTGC earmarked a portion of the venture debt financing to support the build-out of a state-of-the-art AAV-based gene therapy manufacturing facility in Lexington, MA. uniQure anticipates the facility to be fully operational in 2015.