Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) (“Acumen” or the “Company”), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers (“AβOs”) for the treatment of Alzheimer’s disease (“AD”), today announced that it has entered into a senior secured loan and security agreement (the “Loan Agreement”) with K2 HealthVentures, a healthcare-focused specialty finance company.
The Loan Agreement provides up to $50.0 million principal in term loans (the “Term Loan”) consisting of a first tranche of $30.0 million, which was funded at closing, and a second tranche of up to $20.0 million which may be funded in installments upon the Company’s request, subject to review by the lenders of certain information from the Company and discretionary approval from the lenders. The Term Loan matures on November 1, 2027 and may be extended to November 1, 2028 if the Company achieves certain financing milestones. Additional details regarding the Loan Agreement will be included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.
