Calliditas Therapeutics AB said on Wednesday that it had signed and fully drawn a term loan of EUR 92 million with funds managed by Athyrium Capital Management LP.
The company will use the proceeds from the loan to fully repay its existing EUR 68 million loan with Kreos Capital, it said.
With the refinancing, Calliditas Therapeutics extends the interest-only period on its debt by 3 years at the same interest rate as the prior term loan.
The credit agreement provides for quarterly interest-only payments through the third quarter of 2026, the company said.
The loan will partially amortize in four quarterly principal payments of EUR 13.8 million, starting from December 31st 2026.
The outstanding balance is to be repaid on the maturity date of December 31st 2027.
“Signing this four-year term loan facility ensures an extension and expansion of our access to significant non-dilutive capital. With the full FDA approval of TARPEYO, the recent issuance of a Notice of Allowance of a second TARPEYO patent and extension of debt repayment by 3 years, we believe that Calliditas is well positioned to continue to create value through direct commercialization efforts in the United States as well as contributions from our licensees in other jurisdictions, complemented by a late-stage pipeline,” Renée Aguiar-Lucander, Calliditas Chief Executive Officer, said in a press release.
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