Disc Medicine, Inc. (NASDAQ:IRON) shares were firmly in the green Friday. The firm, a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced that it has obtained a $200 million non-dilutive term loan facility from Hercules Capital, Inc. (NYSE:HTGC), a leader in customized debt financing for companies in the life sciences and technology-related markets.
This financing provides funding options to support anticipated key catalysts, including the expected initiation of a confirmatory study of bitopertin in erythropoietic protoporphyria (EPP), a Phase 2 study of DISC-0974 in anemia of myelofibrosis (MF) and a multiple dose study in anemia of non-dialysis dependent chronic kidney disease (NDD-CKD), and a Phase 2 study of DISC-3405 in polycythemia vera (PV).
“With this non-dilutive $200-million financing, we are well-positioned as we prepare for upcoming catalysts across our entire pipeline including the potential initiation of a confirmatory trial of bitopertin in EPP by mid-2025 and related commercial preparations,” said Jean Franchi, Chief Financial Officer of Disc.
“Not only does this non-dilutive financing strengthen what we believe to be an already strong financial position, it provides optionality and strategic flexibility in future capital formation as we continue to advance our pipeline in pursuit of our mission to deliver innovative treatments to patients suffering from serious hematologic diseases.”
IRON shares hiked 79 cents, or 1.3%, to $64.12, while those for HTGC took on 19 cents, or 1%, to $19.89.