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SOUTH SAN FRANCISCO, June 30, 2014 /PRNewswire/ -- Tobira Therapeutics Inc., a clinical-stage biopharmaceutical company advancing cenicriviroc (CVC) in liver disease and HIV, announced today that it has closed a four year, $15 million term loan facility with Oxford Finance LLC. The facility will support the development of CVC for the treatment of nonalcoholic steatohepatitis (NASH) and for working capital and general corporate needs.
About Tobira Therapeutics
Tobira Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of therapies to treat liver disease, HIV, fibrosis and inflammation. The company's lead product, cenicriviroc (CVC), is a first in class immumodulator and dual inhibitor of CCR2 and CCR5 being evaluated for the treatment of nonalcoholic steatohepatitis (NASH) and HIV. CVC's safety and tolerability profile has been evaluated in approximately 550 subjects who have been dosed in Phase 1 and Phase 2 trials, including 115 HIV-1 infected subjects on treatment for up to 48 weeks. Initiation of a Phase 2 of CVC in patients with NASH is planned for the second half of 2014. Tobira also plans to advance CVC in a fixed-dose combination for HIV type 1 infection through Phase 3 development and commercialization in collaboration with a strategic partner or with non-dilutive financing. Learn more at www.tobiratherapeutics.com.
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information, visit www.oxfordfinance.com.
Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking information and forward-looking statements (collectively "forward-looking statements" within the meaning of applicable securities laws). Such statements, based as they are on the current expectations of management of Tobira Therapeutics and upon what management believes to be reasonable assumptions based on information currently available to it, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond Tobira's control. Such statements can usually be identified by the use of words such as "may," "would," "believe," "intend," "plan," "anticipate," "estimate" and other similar terminology, or state that certain actions, events or results "may" or "would" be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements regarding the initiation of a Phase 2 cenicriviroc clinical trial in the second half of 2014.
Whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict. These risks include those inherent in drug development, whether Tobira will be able to obtain financing when needed or on favorable terms, and other risks described in Tobira's filings with the Securities and Exchange Commission. In evaluating any forward-looking statements in this release, Tobira cautions readers not to place undue reliance on any forward-looking statements. Unless otherwise required by applicable securities laws, Tobira does not intend, nor does it undertake any obligation, to update or revise any forward-looking statements contained in this news release to reflect subsequent information, events, results or circumstances or otherwise.
Chief Financial Officer
SOURCE Tobira Therapeutics Inc.