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Biora Therapeutics Secures $10.25 Million Financing Agreement to Support Chapter 11 Sale Process

Dec 30, 2024•over 1 year ago

Contract Type

agreement

San DiegoBiotechnologyHealth CareTherapeutics

Description

Biora Therapeutics has reached an agreement with certain prepetition creditors to secure up to $10.25 million in financing to support a chapter 11 sale process. This funding is expected to enable the company to continue its business operations and launch the next stage of product development.

Company Information

Company

Biora Therapeutics

Location

San Diego, California, United States

About

Biora Therapeutics is a clinical-stage biotech developing two smart pill-based therapeutics platforms: the NaviCap™ platform for colon-targeted treatment of IBD, designed to improve patient outcomes through treatment at the site of disease in the gastrointestinal tract, and the BioJet™ platform for oral delivery of large molecules, designed to replace injection with needle-free, oral delivery for better management of chronic diseases.

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Agreement Insights

Based on industry data
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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