Aspen Neuroscience Receives $40M Credit Facility from Silicon Valley Bank

Aspen Neuroscience, a private biotech company developing the first autologous neuron replacement therapies to treat Parkinson’s disease, signed a $40 million credit facility with Silicon Valley Bank. Terms of the deal were not disclosed.

The San Diego-based company has recently announced the achievement of key pre-clinical and corporate milestones, including raising $147.5 million in Series B financing to support the planned studies of the company’s lead product candidate for Parkinson’s Disease, ANPD001: a first-in-kind iPSC based autologous cell therapy. The company also recently announced the start of its trial ready patient screening cohort study for ANPD001.

“This non-dilutive financing complements our Series B round from earlier in the year and provides significant financial flexibility on top of our already strong balance sheet,” said Kameel Farag, Chief Financial Officer of Aspen Neuroscience.

In October, Aspen announced that Kim Raineri joined the company as Chief Technology Officer and as a member of the company’s executive team.