As previously reported, Heat Biologics Inc (NASDAQ:HTBX), Heat Biologics I, Inc., Heat Biologics III, Inc. and Heat Biologics IV, Inc. (collectively, the “Borrower”) entered into a  Loan and Security Agreement (the “Loan and Security Agreement”) with Square 1 Bank (now known as Pacific Western Bank, the “Lender”).  On September 30, 2016, the Company made a payment to the Lender in the amount of $1,500,000 to reduce the outstanding principal under the Loan and Security Agreement.  The repayment was effected with the proceeds from the recent exercise of warrants.  In connection with the payment, the Lender agreed that the Company no longer was required to meet the  clinical enrollment covenant contained in the Loan and Security Agreement, consistent with the Company’s new clinical trial schedule as announced on September 14, 2016.