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Regulus Therapeutics Announces Restructuring of Sanofi and Oxford Loan Agreements

Regulus Therapeutics Announces Restructuring of Sanofi and Oxford Loan Agreements

Los Angeles JOLLA, Calif. , Aug. 31, 2020 /PRNewswire/ — Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical business dedicated to the breakthrough and growth of revolutionary medications focusing on microRNAs, today announced that pursuant to an amendment of its term loan contract with Oxford LLC, the organization is eligible for up to an extra seven months of great interest just re payments if your Company pays down ten dollars million in loan principal before April 30, 2021 (the “Principal Paydown Event”) utilizing arises from the purchase of materials to, and possible milestones gotten from, Sanofi as described below. The Principal Paydown Event does not occur by April 30, 2021 , the Company will make principal and accrued interest payments, in arrears, commencing May 1, 2021 , in accordance with the previously amended terms in the event. In the event that Principal Paydown Event happens after April 30, 2021 but on or before July 31, 2021 , then your Company will recommence a protracted interest just repayment period through December 31 , 2021. If your business gets the extra interest just duration, major and accrued interest repayments will recommence on January 1, 2022 .

Simultaneously aided by the Oxford amendment described above, the ongoing company additionally joined into an amendment with Sanofi regarding the receipt of prospective milestones from Sanofi because of its growth of miR-21 programs. The organization has also offered extra compound-related materials to Sanofi in return for $1 million . Beneath the regards to the amendment with Sanofi, plus in lieu regarding the past ten dollars million enrollment milestone, the business is eligible to get an extra $4 million upon the conclusion of transfer and verification associated with materials offered to Sanofi and yet another $5 million milestone upon success associated with enrollment milestone. Continue reading “Regulus Therapeutics Announces Restructuring of Sanofi and Oxford Loan Agreements”