India, June 11 -- On Wednesday, Cogent Biosciences, Inc. (COGT), a biotechnology company, announced it has secured a debt financing facility of up to $400 million from credit funds managed by SLR Capital Partners, LLC.
An initial $50 million was drawn at closing, with additional funds to be accessed on key clinical and commercial milestones.
Another $100 million may be accessed in 2025, contingent on positive top-line results from its SUMMIT and PEAK bezuclastinib trials.
Further, $50 million is linked to early commercial success after bezuclastinib launch, while the remaining $200 million requires mutual agreement between Cogent and SLR.
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The biotechno...