Armata Pharmaceuticals amends, signs financing deals for $55 million

By William Gullotti

Buffalo, N.Y., July 11 – Armata Pharmaceuticals, Inc. extended the maturity of its existing $30 million secured term loan facility in connection with signing a new $25 million secured term loan facility on July 10, according to an 8-K filing with the Securities and Exchange Commission.

Innoviva Strategic Opportunities LLC, a wholly owned subsidiary of Innoviva, Inc., is the principal shareholder providing both facilities.

The initial $30 million term loan, signed Jan. 10 and bearing interest at 8% per annum, was amended to extend the maturity to Jan. 10, 2025 from Jan. 10, 2024.

The new agreement bears interest at 13% per year and will also mature Jan. 10, 2025.

Proceeds will be used to complete the build-out of its state-of-the-art cGMP manufacturing facility, which will provide the manufacturing capacity to pursue strategic partnering opportunities while in parallel executing late-stage clinical trials.

With headquarters in Marina del Rey, Calif., Armata Pharmaceuticals is a clinical-stage biotechnology company focused on the development of precisely targeted bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections.

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