Benzinga | Nov 18, 2021 02:06PM EST

BridgeBio Pharma Secures Debt Financing Of $750M

* BridgeBio Pharma Inc (NASDAQ:BBIO) has executed a definitive credit facility agreement with a syndicate of lenders for up to $750 million in financing.

* This facility, combined with the Company's existing cash balance of $599.6 million, provides access to over $1.2 billion to advance the Company's pipeline programs.

* The financing is expected to fully fund BridgeBio's portfolio of more than 30 drug development and discovery programs into 2024.

* Morgan Stanley & Co. LLC acted as the sole placement agent to BridgeBio on this transaction.

* Latham & Watkins LLP acted as counsel to BridgeBio.

* Related: BridgeBio Pharma's Candidate For Muscle-Wasting Disorder Wins Fast Track Tag In US.

* Price Action: BBIO shares are down 0.35% at $45.94 during the market session on the last check Thursday.