Precigen, Inc. (PGEN), a biopharmaceutical company focused on precision medicines, has entered into a credit facility agreement with funds managed by Pharmakon Advisors, LP.
The facility provides up to $125 million, including $100 million funded at closing and an additional $25 million available through March 31, 2027, subject to conditions. The agreement matures five years from the first funding and carries interest at 6.5% plus the three-month SOFR, with a 3.75% SOFR floor.
The financing strengthens Precigen's resources for the U.S. launch of PAPZIMEOS, its novel immunotherapy, and supports expansion into international and pediatric HPV-related indications. Evercore acted as financial advisor and Davis Polk LLP as legal counsel to Precigen, while Akin advised Pharmakon.
CEO Helen Sabzevari said the financing enhances Precigen's ability to commercialize PAPZIMEOS and pursue global growth, positioning the company as a leading innovator. CFO Harry Thomasian highlighted that the strengthened balance sheet provides flexibility for commercialization and broader strategic initiatives during a phase of projected significant growth.
Pharmakon Advisors, a leading non-dilutive life sciences investor managing over $10 billion, continues to support the sector through its BioPharma Credit funds.
PGEN currently trades at $4.775 or 0.3151% higher on the NasdaqGS.
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