Curis takes on $30 million worth of debt
Curis Inc., a Lexington company developing small-molecule cancer drugs, said it will enter into a $30 million debt transaction, secured with certain future Erivedge royalties, with an investment fund managed by Pharmakon Advisors. Erivedge is the first and only US-approved medicine for people with advanced basal cell carcinoma, a press release said. It is developed and marketed by Genentech. The royalty payments that Curis will be entitled to under a collaboration with Genentech will be the source of funds to repay the loan.