Zafgen Closes $20M Term Loan

zafgenZafgen, Inc., a Cambridge, MA-based biopharmaceutical company, closed a $20m term loan.

Oxford Finance and MidCap Financial provided the loan.

The company intends to use the proceeds for working capital growth.

Founded in 2005, Zafgen develops Beloranib, a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in Prader-Willi syndrome, craniopharyngioma-associated obesity, and severe obesity in the general population.

The company holds exclusive worldwide rights (exclusive of South Korea) for development and commercialization of beloranib, which was exclusively licensed from Chong Kun Dang (CKD) Pharmaceutical Corp. of South Korea.



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