Invivyd (IVVD) has signed a $30 million term loan facility with Silicon Valley Bank, a division of First Citizens Bank. The deal allows for drawdown of capital in the future if certain conditions and milestones are met.
"We are pleased to have secured this term loan facility ahead of important anticipated catalysts, including gaining alignment with the FDA on the regulatory pathway of our pipeline candidate, VYD2311," said Bill Duke, CFO of Invivyd.
VYD2311 is a monoclonal antibody candidate being developed for COVID-19 to continue to address the urgent need for new prophylactic and therapeutic options.
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