Tricida, Inc., a South San Francisco, CA-based late-stage pharmaceutical company, entered into a $100 million venture debt facility with Hercules Capital, Inc.
Tricida drew down $25 million from the venture debt facility at closing. An additional $50 million will be available for drawdown subject to the achievement of future milestones. The remaining $25 million will be available for drawdown subject to approval by Hercules.
The company intends to use the funds to continue the development of TRC101 for the treatment of metabolic acidosis in chronic kidney disease patients.
The company currently has 26 employees.