– New $38.7 million term loan with a May 2029 maturity –– $37.5 million royalty monetization financing based on future sales of LOQTORZI® and UDENYCA® –  REDWOOD CITY, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. ((Coherus, NASDAQ:CHRS), today announced it entered into a combined term loan and product royalty financing agreement with Barings that has allowed Coherus to fully pay off the remaining $75 million of its Pharmakon Advisors term loan. This further reduces the Company's term loan debt by approximately half, with an extended loan maturity date of May 2029. "This debt and royalty financing arrangement fully repays the $75 million remaining on our prior $250 million term loan that was due in October 2025," said Denny Lanfear, Chief Executive Officer of Coherus. "This transaction improves our capital structure, moves the maturity date to a point more consistent with our development horizon, setting us on the course of long-term, sustainable growth as a focused oncology company." Under the terms of the royalty monetization facility, Coherus received $37.5 million in return for a certain net sales royalty percentage consideration on U.S. sales of LOQTORZI® and UDENYCA® up to a hard cap. Under the term loan, Coherus received $38.7 million in proceeds from a structured debt loan with a May 2029 maturity. Barings LLC is a global asset management firm supporting leading businesses with flexible financing solutions. Latham & Watkins LLP provided legal counsel and Armentum Partners, LLC advised Coherus on the financing. About Coherus BioSciences  Coherus is ...