CLEARSIDE BIOMEDICAL, INC. (NASDAQ:CLSD) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement.
On October 31, 2017, Clearside Biomedical, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its amended and restated loan agreement (as amended, the “Loan Agreement”) with Silicon Valley Bank, ELM 2016-1 Trust (as successor in interest to Midcap Funding XIII Trust) and Midcap Financial Trust (collectively, the “Lenders”). to the Amendment, if the Company becomes eligible to draw the remaining $7.0 million tranche under the Loan Agreement, the Company will be able to draw such funds at its discretion until the earlier of (i) March 31, 2018 and (ii) the occurrence of an event of default under the Loan Agreement.The Company paid a fee of $35,000 to the Lenders in connection with entering into the Amendment.
Except as modified by the Amendment, all terms and conditions of the Loan Agreement remain in full force and effect.
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
Clearside Biomedical, Inc. ExhibitEX-10.1 2 clsd-ex101_6.htm EX-10.1 AMENDED LOAN AGREEMENT SVB MIDCAP clsd-ex101_6.htm Exhibit 10.1 FIRST AMENDMENTTOAMENDED AND RESTATED LOAN AND SECURITY AGREEMENT THIS FIRST AMENDMENT to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into as of October 31,…To view the full exhibit click here
About CLEARSIDE BIOMEDICAL, INC. (NASDAQ:CLSD)
Clearside Biomedical, Inc. is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment. With its microinjector, drugs are injected into and spread within and through the suprachoroidal space, (SCS), which is the space located between the choroid and the outer protective layer of the eye known as the sclera. With the suprachoroidal injection, its product candidates are more directly administered to the retina and choroid as compared to other ocular drug administration techniques, such as injections of drug into the vitreous, a jelly-like substance that occupies the central portion of the eye.