Peak Bio, Inc. announced that it has entered into a securities purchase agreement to issue senior secured promissory note for gross proceeds of $75,000 on January 23, 2024. The transaction included participation from individual lender Huh. The promissory note carry a interest rate of 15% per annum.

The note will mature on January 23, 2025. The company will seek additional bridge loans of up to an additional $4,250,000.