Hercules Capital (HTGC) amended its senior secured term loan with Dyne Therapeutics (Nasdaq: DYN). The agreement expands Dyne's total borrowing capacity to $400 million. This amendment adds $125 million in new borrowing capacity for the clinical-stage biotech firm.
Dyne received $50 million in funding at the closing of the amendment. A second $50 million tranche remains available upon reaching specific milestones. A final $75 million tranche is available at Hercules Capital's discretion.
The non-dilutive debt facility supports Dyne’s development of therapies for genetically driven neuromuscular diseases. These funds provide financial flexibility for two potential U.S. drug launches within the next two years.