Friday, November 3, 2017

Puma Biotechnology Gets $100M In Term Loan

Los Angeles-based Puma Biotechnology said late Thursday that it has received $100M in a term loan funding, which came from Silicon Valley Bank and Oxford Finance. According to Puma, which is developing treatments for cancer, the loan is split into two funding tranches. An initial $50M tranche closed on October 31st, and will be use for general corporate purposes and commercialization of its NERLYNX compound; the remaining $50M is subject to achievement of certain milestones. Terms of the loan were not announced. Puma Biotechnology is led by Chairman, CEO, and President Alan H. Auerbach.