With a promising bacteriophage discovery platform combined with a strong network of value-adding partnerships, Locus has created a solid operational foundation from which to grow.
FREMONT, CA: To address significant unmet medical needs using its unique bacteriophage discovery, synthetic biology, and manufacturing platform, Locus Biosciences, a clinical-stage biotechnology company is developing two innovative categories of biotherapeutics: precision products to fight deadly infections, including those caused by multi-drug resistant bacteria, and engineered bacteriophage therapies that use bacteria resident in the body to deliver therapeutic molecules.
Locus has signed a credit agreement with Hercules Capital, a specialty financing lender for life science and technology companies, for a credit facility of up to 25 million dollars. The facility’s funds will be released in installments based on the completion of particular clinical and business benchmarks. “This agreement with leading biotech lender Hercules underscores the potential of the Locus platform,” said Paul Garofolo, Co-founder and CEO of Locus. “It also provides access to valuable growth capital that supports the expansion of our discovery platform engine and in-house manufacturing capacity.”
“With a promising bacteriophage discovery platform combined with a strong network of value-adding partnerships, Locus has created a solid operational foundation from which to grow,” said Bryan Jadot, Senior Managing Director and Group Head for Life Sciences at Hercules Capital. “Hercules is pleased to enter into this strategic relationship with Locus to support its push to fundamentally change the way bacteria-related diseases are treated.”