Madrigal Pharmaceuticals Secures $500 Million in Senior Secured Credit from Blue Owl Managed Funds to Further Extend Leadership Position in MASH

Core Insights - Madrigal Pharmaceuticals has secured a $500 million senior secured credit facility with Blue Owl Capital to advance its pipeline for metabolic dysfunction-associated steatohepatitis (MASH) [1][2] - The financing is non-dilutive and aims to strengthen Madrigal's capital position while supporting the expansion of its MASH pipeline [2][8] - Madrigal's medication, Rezdiffra, is the first FDA-approved treatment for MASH with moderate to advanced fibrosis, and a pivotal trial for compensated MASH cirrhosis is currently underway [3] Company Overview - Madrigal Pharmaceuticals focuses on developing novel therapeutics for MASH, a liver disease with significant unmet medical needs [3] - Rezdiffra (resmetirom) is a once-daily oral medication targeting the underlying causes of MASH, approved for patients with moderate to advanced fibrosis [3] - The company is positioned to transform the treatment landscape for MASH, with a strong U.S. launch momentum and a patent for Rezdiffra extending protection through 2044 [2][3] Financial Details - The credit facility includes a $350 million initial term loan funded at closing, which refinances existing senior secured debt, and a $150 million delayed draw term loan facility available through December 2027 [8][9] - An option for additional incremental facilities of up to $250 million is available to support further strategic business development [9] - The financing is part of Madrigal's long-term growth strategy, allowing for focused business development in the MASH sector [2]