Humacyte Announces Credit Facility of Up to $77.5 Million with Avenue Capital

Core Insights - Humacyte, Inc. has secured a credit facility with Avenue Venture Opportunities Fund II, L.P. for up to $77.5 million, aimed at retiring existing debt and providing future financing opportunities [1][2] Financing Details - The credit agreement has a four-year term, with an initial tranche of $40 million fully funded at closing, and two additional tranches totaling up to $37.5 million contingent on certain conditions [1] - Proceeds from the initial tranche are primarily allocated to retire Humacyte's existing debt facility [1] Company Growth Plans - Humacyte plans to expand the use of its product Symvess® in both U.S. and international markets in 2026 [2] - The company anticipates interim results from its V012 Phase 3 trial in dialysis and the initiation of the first human study of its coronary tissue engineered vessel (CTEV) for coronary bypass graft surgery [2] Product Development and Regulatory Status - Humacyte is developing bioengineered human tissues and has received FDA approval for its acellular tissue engineered vessel (ATEV) for vascular trauma in December 2024 [4] - The ATEV is currently in late-stage clinical trials for other vascular applications, including arteriovenous access for hemodialysis and peripheral artery disease [4] - Preclinical development is ongoing for coronary artery bypass grafts, pediatric heart surgery, and treatment of type 1 diabetes [4] Strategic Partnerships - Avenue Venture Opportunities Fund expresses excitement in partnering with Humacyte, highlighting the significant patient needs addressed by Symvess [2][3]