AmplifyBio secures $50M debt financing with Hercules Capital

AmplifyBio announced that it had augmented its balance sheet with non-dilutive debt financing, whereby it may borrow a principal amount of up to $50 million from Hercules Capital. The move allows AmplifyBio to continue investing in its strategic plan, including the rapid growth of sites, technology, and service offerings planned for the coming 18 to 24 months. Securing this funding comes a mere 18 months after AmplifyBio’s launch as a commercially focused spinoff from Battelle. Since launch, AmplifyBio has hired over 150 additional personnel, built a state-of-the-art analytics laboratory on its West Jefferson, Ohio, campus, and acquired a second site in South San Francisco dedicated to the robust characterization of advanced therapies. The company will soon open a new location in New Albany, Ohio, to add technologies and partnerships that further expedite the safe commercialization of novel therapeutics.