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Genocea secures up to $27mm in debt financing from Hercules, plus $2mm in equity financing

Executive Summary

Nine months after going public, Genocea Biosciences Inc. (T-cell vaccines for infectious diseases) secured up to $27mm in debt financing from Hercules Technology Growth Capital, which provided $12mm up front. At its option, Genocea can draw down another $5mm no later than June 30, 2015, and two additional tranches of $5mm on or before December 15, 2015. The tranches are subject to Phase II clinical milestones for its GEN003 and GEN004, and the close of future equity financing. Hercules also purchased $2mm in Genocea equity--223k common shares at $8.95 each (a slight premium).
Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Vaccines
Deal Status
  • Final
Deal Type
  • Financing
    • Nonconvertible Debt
    • Private Investment in Public Equity
    • Private Placement

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