We advised Precigen on the loan agreement

Davis Polk advised Precigen, Inc., as the borrower in connection with a $125 million loan agreement with investment funds managed by Pharmakon Advisors, LP as lenders. The financing consisted of an initial $100 million term loan facility and a $25 million delayed draw term loan facility. Proceeds of the financing will be used to fund Precigen’s general corporate and working capital requirements.

Precigen is a dedicated discovery and clinical stage biopharmaceutical company advancing the next generation of gene and cell therapies. It uses precision technology to target the most urgent and intractable diseases in its core therapeutic areas of immuno-oncology, autoimmune disorders and infectious diseases. The company’s technologies are designed to enable it to find innovative solutions for affordable biotherapeutics in a controlled manner. Precigen operates as an innovation engine progressing a preclinical and clinical pipeline of well-differentiated therapies toward clinical proof-of-concept and commercialization.

The Davis Polk sponsor finance team included partner Jack Orford, counsel Yuko Sin and associate Tony Kuang. The intellectual property team included partner David R. Bauer, counsel Christopher C. Woller and associate Anthony Tran. The capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar, counsel Arisa Akashi Sin and associate Jenny (Jingjing) Li. All members of the Davis Polk team are based in the New York office.

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