Seres Therapeutics, Inc. develops live biotherapeutic products and microbiome-based therapies for inflammatory, immune, infectious and gastrointestinal diseases. Company updates commonly address pipeline programs such as SER-155 for immune checkpoint inhibitor-related enterocolitis and prevention of bloodstream infections in allogeneic hematopoietic stem cell transplant patients, SER-603 for inflammatory bowel disease, and SER-428 for antimicrobial resistance and serious infections.
Recurring announcements include financial results, operational updates, research publications, scientific conference presentations, biomarker and microbiome-mechanism data, collaborations, financing and partnership activity, cost-control measures, and governance changes.
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Seres Therapeutics has secured a $250 million senior secured debt facility from Oaktree Capital Management, with $110 million received at closing. This financing supports the commercial launch of VOWST™ and advances the company’s pipeline.
The initial $110 million will retire $53 million of existing debt, leaving around $50 million for operations. The loan carries an interest rate of SOFR + 7.875%, capped at 12.875%, maturing in six years with a possible three-year extension.
With VOWST's FDA approval in April 2023, Seres aims to lead in microbiome therapeutics. The partnership with Oaktree is vital for Seres’ growth, addressing significant medical needs.