Albireo secures up to $80 million debt facility with Hercules Capital

By Devika Patel

Knoxville, Tenn., June 9 – Albireo Pharma, Inc. secured up to $80 million through a new debt facility with Hercules Capital, Inc., according to a press release.

Albireo may access up to $80 million of new capital, with an initial minimum of $10 million drawn down on a first available tranche of $15 million, and additional tranches based on regulatory and other milestones.

The company also will receive $15 million under a restructured royalty monetization agreement with HealthCare Royalty Partners for elobixibat in the treatment of chronic constipation in Japan.

The clinical-stage biopharmaceutical company is based in Boston.

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