- Invivyd, Inc. (IVVD, Financial) secures a $30 million non-dilutive loan facility from Silicon Valley Bank.
- The loan aims to provide capital flexibility without shareholder dilution.
- Funds will support upcoming strategic developments, including FDA discussions for VYD2311.
Invivyd, Inc. (Nasdaq: IVVD), a biopharmaceutical company focused on antiviral solutions, has announced a $30 million term loan facility agreement with Silicon Valley Bank (SVB), a division of First Citizens Bank. This non-dilutive financing arrangement allows Invivyd to draw down capital in the future, contingent upon meeting certain conditions and milestones.
Bill Duke, Chief Financial Officer of Invivyd, commented on the significance of the loan facility, emphasizing its role in bolstering the company's financial flexibility. This comes ahead of anticipated strategic catalysts, particularly the alignment with the U.S. Food and Drug Administration (FDA) regarding the regulatory pathway for their pipeline candidate, VYD2311. The non-dilutive nature is designed to maintain balance sheet resilience while enhancing per-share value for stakeholders.
VYD2311 is a novel monoclonal antibody candidate being developed by Invivyd as a prophylactic and therapeutic option for COVID-19, leveraging their proprietary technology platform. The company is actively engaging with regulatory bodies to advance its development pipeline.
For more information about Invivyd and their ongoing projects, visit their website at https://invivyd.com/.
