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CalciMedica Secures Credit Facility for Up to $32.5 Million
CALCCalciMedica(CALC) Prnewswire·2025-03-05 12:00

Core Insights - CalciMedica Inc. has secured a credit facility of up to 32.5millionfromAvenueVentureOpportunitiesFundII,L.P.tosupportitsproductpipelinedevelopment[1][2]−Theinitialtrancheof32.5 million from Avenue Venture Opportunities Fund II, L.P. to support its product pipeline development [1][2] - The initial tranche of 10 million is fully funded at close, with additional tranches of up to 22.5millioncontingentonachievingcertainmilestones[2]−ThefundingisexpectedtoextendCalciMedica′scashrunwayintomid−2026,allowingthecompanytoprepareforcriticalmilestonesin2025,includingdatafromitsPhase2KOURAGEtrial[3]CompanyOverview−CalciMedicaisaclinical−stagebiopharmaceuticalcompanyfocusedondevelopingnovelCRACchannelinhibitiontherapiesforinflammatoryandimmunologicdiseases[5]−Thecompany′sleadproductcandidate,Auxora™,hasshownpositiveclinicalresultsinmultipletrials,includingaPhase2btrialforacutepancreatitisandongoingtrialsforacutekidneyinjuryandpediatricpatientswithasparaginase−inducedpancreatictoxicity[5]−CalciMedicawasfoundedbyscientistsfromTorreyPinesTherapeuticsandtheHarvardCBRInstituteforBiomedicalResearch,andisheadquarteredinLaJolla,California[5]FundingDetails−Thecreditagreementhasatermof3.5yearsandincludesnominimumcashrequirementorotherfinancialcovenants[2]−ThefundingwillenableCalciMedicatomaintainoperationsandsupportongoingclinicaltrials,includinganticipateddiscussionswiththeFDAregardingaPhase3programinacutepancreatitis[3][6]−AvenueCapitalGroup,managingapproximately22.5 million contingent on achieving certain milestones [2] - The funding is expected to extend CalciMedica's cash runway into mid-2026, allowing the company to prepare for critical milestones in 2025, including data from its Phase 2 KOURAGE trial [3] Company Overview - CalciMedica is a clinical-stage biopharmaceutical company focused on developing novel CRAC channel inhibition therapies for inflammatory and immunologic diseases [5] - The company's lead product candidate, Auxora™, has shown positive clinical results in multiple trials, including a Phase 2b trial for acute pancreatitis and ongoing trials for acute kidney injury and pediatric patients with asparaginase-induced pancreatic toxicity [5] - CalciMedica was founded by scientists from Torrey Pines Therapeutics and the Harvard CBR Institute for Biomedical Research, and is headquartered in La Jolla, California [5] Funding Details - The credit agreement has a term of 3.5 years and includes no minimum cash requirement or other financial covenants [2] - The funding will enable CalciMedica to maintain operations and support ongoing clinical trials, including anticipated discussions with the FDA regarding a Phase 3 program in acute pancreatitis [3][6] - Avenue Capital Group, managing approximately 12.1 billion in assets, aims to provide creative financing solutions to high-growth, venture capital-backed companies [4]