MoonLake Secures up to $500 Million in Non-Dilutive Financing from Hercules Capital and Announces a Capital Markets Update on April 29 to Provide Important Clinical Updates

Core Viewpoint - MoonLake Immunotherapeutics has secured a partnership with Hercules Capital for up to $500 million in non-dilutive capital to advance its investigational therapy sonelokimab for inflammatory diseases [1][3][7] Financial Strength - The agreement provides $75 million at closing, with additional funds available upon achieving specific milestones, enhancing MoonLake's financial position without diluting shareholder equity [1][3][7] - The new facility adds to the existing cash position of $448 million, supporting the company's growth and the expected launch of sonelokimab in 2027 [7] Clinical Development - MoonLake is advancing eight Phase 2 and Phase 3 clinical trials, with pivotal Phase 3 data for hidradenitis suppurativa (HS) expected by mid-2025 [5][6] - The company plans to present important clinical updates, including patient baseline characteristics and primary endpoint readout timing for the VELA program, during a Capital Markets Update on April 29, 2025 [4][7] Product Overview - Sonelokimab is a ~40 kDa humanized Nanobody® targeting IL-17 dimers, designed to treat inflammatory diseases such as HS and palmoplantar pustulosis (PPP) [2][10][13] - The VELA program aims to enroll 800 patients to evaluate the efficacy and safety of sonelokimab in adult patients with active moderate-to-severe HS [22] Market Opportunity - Hidradenitis suppurativa affects approximately 2% of the population, with a projected market opportunity reaching $15 billion by 2035 due to significant unmet medical needs [24][25]