- LAVA Therapeutics (LVTX, Financial) receives a $5.1 million debt waiver from RVO.
- The waiver enhances the company's balance sheet by removing outstanding debt.
- This move supports LAVA's ongoing strategic review and cost optimization efforts.
LAVA Therapeutics N.V. (LVTX), a clinical-stage immuno-oncology company, announced that it has secured a full waiver of its $5.1 million repayment obligation from the Netherlands Enterprise Agency (RVO). The debt waiver concerns an Innovation Credit granted in 2019, originally awarded for the development of LAVA-051.
This significant financial milestone eliminates the outstanding debt obligation, effectively strengthening the company’s balance sheet. LAVA Therapeutics has highlighted this achievement as a pivotal part of its strategic review and cost optimization initiatives.
The RVO's Innovation Credit program provides interest-bearing loans to support the development of innovative projects according to specific criteria. For the LAVA-051 project, LAVA pledged certain project assets and intellectual property as a guarantee.
LAVA Therapeutics continues to focus on its proprietary Gammabody® platform, aimed at developing bispecific gamma delta T cell engagers for treating solid tumors and hematologic malignancies. The company is undergoing a strategic review to enhance operational efficiency and financial flexibility.
