uniQure, a prominent name in the gene therapy sector, has announced a significant financial transaction designed to bolster its funding for future projects. The company entered into a $175 million non-dilutive senior secured term loan facility with Hercules Capital, Inc. This strategic move extends the term of its existing $50 million debt from January 2027 to October 2030, offering additional financial resources as the company prepares for significant undertakings, including the potential commercial launch of AMT-130, a gene therapy aimed at treating Huntington’s disease, anticipated in 2026.
The structured loan consists of three tranches: the first tranche refinances the existing $50 million, while a second tranche offers up to $100 million, contingent on achieving specific regulatory and financial milestones. Furthermore, a third tranche allows for up to an additional $25 million, pending approval from Hercules. The loan’s interest rate is set at a flexible rate, currently at 9.70%, lower than the previous floating rate of 11.95%, thereby optimizing the company’s cost of capital.
This financial maneuver is anticipated to enhance uniQure’s ability to fund its strategic goals while maintaining flexibility in its operations. Christian Klemt, Chief Financial Officer of uniQure, emphasized the importance of this transaction in ensuring they have the necessary resources for their forthcoming products and developments, notably the commercial release of AMT-130 in the United States.
uniQure’s commitment to genetic therapies has been evident through its innovative treatment for hemophilia B, marking a substantial advancement in genomic medicine. This new loan agreement signals uniQure’s continued dedication to providing groundbreaking treatments for severe medical conditions, such as Huntington’s disease, refractory temporal lobe epilepsy, ALS, and Fabry disease.
Hercules Capital, known for its support of high-growth, innovative companies in the technology and life sciences industries, backs this agreement. Since its founding, Hercules has committed over $22 billion in financing to more than 680 companies, establishing itself as a leading partner for venture-capital-backed endeavors.
The move represents a forward-thinking approach, ensuring that uniQure is well-positioned financially to meet its objectives and sustain its innovative efforts in the gene therapy landscape. By securing this non-dilutive funding, uniQure can focus on achieving its milestones without diluting its current shares— a strategic decision that supports the company’s long-term growth and innovation in providing critical medical therapies.