Benzinga | Apr 19, 2021 08:07AM EDT

Rezolute Announces $30M Debt Financing Agreement with SLR Capital Partners

Rezolute, Inc. ("Rezolute" or "the Company") (NASDAQ:RZLT), a clinical stage biopharmaceutical company dedicated to advancing targeted therapies for rare and metabolic diseases with serious unmet needs, today announced that it has entered into a $30 milliondebt financing agreement with investment affiliates managed by SLR Capital Partners ("SLR").



Fifteen million of the $30 million loan was funded upon closing with an interest only period of 24 months. The remaining fifteen million may be funded upon Rezolute achieving certain predetermined milestones and conditions.

"The access to capital provided by this facility gives Rezolute non-dilutive operational flexibility as we continue advancing our pipeline. Thanks to Armentum Partners in their brokering of this competitive deal for Rezolute," said Nevan Elam, chief executive officer of Rezolute.

Further information with respect to the debt financing agreement with SLR will be contained in a Current Report to be filed on Form 8-K by Rezolute with the Securities and Exchange Commission.