Thursday, June 13, 2013

Anacor Pharmaceuticals Gets Loan Funding

Palo Alto-based Anacor Pharmaceuticals, a developer of small-molecule therapeutics derived from a boron chemistry platform, has entered into a new, $45.0M loan agreement, the company said this week. The company said the loan comes from Hercules Technology Growth Capital, and will be distributed in three tranches. The firm said $22.6M of the first $30M tranche will go towards paying off a remaining loan agreement, with the remainder going to New Drug Application (NDA) activity. Anacor is publicly traded on the NASDAQ as ANAC.