Aptevo Therapeutics announced that the Company has raised $9.6 million in non-dilutive funding, extending its cash runway beyond 12 months with an additional $50,000 possible based on IXINITY sales in Q123. Aptevo raised this funding by closing a transaction for the complete sale of all future IXINITY deferred payments and a portion of IXINITY milestones to XOMA Corporation. A portion of the proceeds was used to fully repay the existing debt facility on the Company’s balance sheet. Independent of the agreement and in addition to the receipt of the above referenced $9.6 million, Aptevo retains rights to potential milestones related to regulatory approvals and IXINITY worldwide net sales of up to an additional $5.8 million, as follows: $750,000 for Canadian registration; Up to $2.5 million for regulatory approval in certain European countries; $2.5 million for the first fiscal year should worldwide net sales meet or exceed $120 million; These milestones may be earned up to February 28, 2035.
Published first on TheFly
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