Coherus BioSciences, Inc. announced it entered into a combined term loan and product royalty financing agreement with Barings LLC 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. 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. Latham & Watkins LLP provided legal counsel and Armentum Partners, LLC advised Coherus on the financing.