Annexon Secures Up to $200 Million Credit Facility From Oxford Finance To Support Commercial Growth

Annexon, Inc., a biopharmaceutical company developing targeted immunotherapies for neuroinflammatory diseases, has entered into a strategic credit facility agreement with Oxford Finance LLC that provides access to up to $200 million in non-dilutive funding. The financing is expected to strengthen the company's financial position as it prepares for the potential commercialization of its lead drug candidates, vonaprument and tanruprubart.

As part of the agreement, Annexon received an initial $50 million at closing. The company will be eligible to access an additional $100 million upon achieving specific milestones related to the registrational development programs for vonaprument and tanruprubart. The remaining $50 million will be available subject to approval from the lender.

Douglas Love, President and Chief Executive Officer of Annexon, said the new financing facility enhances the company's financial and operational flexibility as it advances toward the potential global launch of vonaprument and tanruprubart. He noted that the two programs have the potential to benefit millions of patients worldwide and added that the non-dilutive funding diversifies Annexon's capital structure, strengthens its balance sheet, and supports both its near-term and long-term growth strategy.

Oxford Finance also expressed confidence in Annexon's development pipeline. Kirk Andrews, Managing Director of Oxford Finance, said the company is advancing a differentiated approach to treating complement-driven neuroinflammatory diseases, with two late-stage programs approaching potential regulatory registration. He added that the milestone-based financing reflects Oxford Finance's confidence in Annexon's strategy, execution, and ability to advance both vonaprument and tanruprubart through important development milestones.

The strategic financing agreement provides Annexon with additional capital to support its clinical and commercial objectives while reducing the need for shareholder dilution. The company expects the funding to help advance its late-stage development programs and strengthen its preparations for potential regulatory approvals and global commercialization of its lead therapies.