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

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.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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