Aimmune Therapeutics Inc. (NASDAQ:AIMT) has entered another phase of being able to fund the commercialization of AR101. A loan agreement between the company and an affiliate of KKR heightened the positive turn of events. The $170 million loan will see Aimmune accelerate to the next level of growth. It will also enhance the company’s efforts in the development of treatments for potentially life-threatening food allergies.
The distribution of the loan term was in three tranches. The first of forty million dollars at close and $85 million would follow upon FDA’s approval of AR101. The issuance of final distribution amounting to $45 million would be at the company’s discretion in 2020 and after meeting certain borrowing conditions.
Aimmune intends to offer meaningful levels of support to those affected food allergies
Records have it that millions are suffering from food allergies with little or no support. This is the reason why Aimmune is so enthusiastic about reaching out to such victims with a working solution such as AR101. The investigational biologic oral immunotherapy has received Breakthrough Therapy Designation from the FDA following successful landmark Phase 3 PALISADE trial. It is a treatment for peanut allergy and majorly children and adolescents ages 4–17 years.
Aimmune is proud of its milestones. It is eagerly waiting for the launch of what is likely to be the first-ever approved treatment for peanut allergy. The financing will also come a long way into advancing its Phase 2 trial of AR201 according to Eric Bjerkholt.
“This financing secures resources to support the continued advancement of our pipeline of additional food allergy treatments, including the Phase 2 trial of AR201 for egg allergy, which is anticipated to commence this year,” the Chief Financial Officer of Aimmune Therapeutics says.
KKR helps companies scale up in achieving their strategic objectives
KKR is one of the leading investment firms, which helps companies regenerate attractive investment returns. It is in charge of multiple asset classes such as real estate, energy, equity, and infrastructure among others. The firm’s Head of Income Strategy, Emily Janvey says that they feel obligated to support any company giving alternative solutions to the community.