MoonLake secures up to $500 million financing; research update

4 April 2025

US biotech MoonLake Immunotherapeutics (Nasdaq: MLTX) has entered into an agreement with Hercules Capital (NYSE: HTGC) for up to $500 million in non-dilutive capital, of which $75 million drawn down at close and additional tranches will become available upon achievement of certain pre-specified milestones that are aligned with MoonLake’s strategy and funding needs.

The company noted that the additional capital strengthens MoonLake’s balance sheet and provides financial support to rapidly advance sonelokimab and bring to market an investigational ~40 kDa humanized Nanobody designed to directly target sites of inflammation by inhibiting all relevant interleukin (IL)-17 dimers (namely the IL-17A/A, IL-17A/F, and IL-17F/F dimers) and penetrating difficult-to-reach inflamed tissues.

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