X4 Pharma secures $80M term loan from K2 HealthVentures; $70M more available

X4 Pharmaceuticals closed a $150 million loan facility with K2 HealthVentures, immediately drawing $80 million and securing up to $70 million additional. The company repaid its prior Hercules debt and received proceeds for working capital, de-risking near-term liquidity while the loan is gated on achieving first commercial sales of mavorixafor (its main pipeline asset) and maintains significant covenant restrictions on operations.

A biotech company obtained a large loan to cover operations and replaced its previous debt, buying time to sell its lead drug candidate before principal payments begin in 2029.