Acumen secures $50 million credit facility via K2 HealthVentures

By Marisa Wong

Los Angeles, Nov. 14 – Acumen Pharmaceuticals, Inc. entered into a $50 million senior secured loan and security agreement with K2 HealthVentures, according to a press release.

The credit facility consists of a first tranche of $30 million, which was funded at closing, and a second tranche of $20 million that may be funded in installments at the company’s request, subject to review by the lenders.

The term loan matures on Nov. 1, 2027 and may be extended to Nov. 1, 2028 if the company achieves certain financing milestones.

The credit facility provides additional capital to support development of a subcutaneous formulation of ACU193 and for general corporate purposes.

Acumen is a Charlottesville, Va.-based clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers for the treatment of Alzheimer’s disease.

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