Biotech firm Aspen Neuroscience inks $40m debt financing from SVB

Recently, Aspen Neuroscience raised $147.5 million in Series B financing.

  • Aspen Neuroscience’s backers include GV, LYFE Capital, Revelation Partners, Newton Investment Management, EDBI, LifeForce Capital, Medical Excellence Capital Partners, Mirae Asset Capital and NS Investment
  • SVP provides financing to the tech, life science and healthcare, private equity, venture capital and wine industries

San Diego-based Aspen Neuroscience In, a developer of cell therapies to treat Parkinson’s disease, has secured a $40 million credit facility from Silicon Valley Bank.

“We are pleased to work with Silicon Valley Bank. As a leader in autologous cell therapy, Aspen lives at the intersection of tech and biology, and SVB is a premier strategic partner in both spaces,” said Kameel Farag, chief financial officer of Aspen Neuroscience, in a statement. “This non-dilutive financing complements our Series B round from earlier in the year and provides significant financial flexibility on top of our already strong balance sheet.”

Recently, Aspen Neuroscience raised $147.5 million in Series B financing to support the planned studies of the company’s lead product candidate for Parkinson’s Disease. The company also recently announced the start of its trial ready patient screening cohort study for ANPD001.

Aspen Neuroscience’s backers include GV, LYFE Capital, Revelation Partners, Newton Investment Management, EDBI, LifeForce Capital, Medical Excellence Capital Partners, Mirae Asset Capital and NS Investment.

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