Exagen Secures $75 Million Credit Facility with Perceptive Advisors

Exagen Inc., a prominent provider of autoimmune testing solutions, has secured a substantial term loan credit facility totaling $75 million from Perceptive Advisors LLC. The initial funding of $25 million will be utilized to refinance existing debts, marking a strategic move designed to improve Exagen's balance sheet and bolster its financial position. The facility comprises multiple tranches, with additional funds subject to the achievement of certain revenue milestones, providing Exagen with minimally dilutive capital for potential growth initiatives. This financing arrangement is secured by Exagen's assets and features interest rates tied to Term SOFR plus 7%. In connection with the deal, Exagen has also granted warrants to Perceptive Advisors for purchasing common shares, further enhancing the financial partnership. This initiative underscores Exagen's commitment to advancing personalized medicine in autoimmune diseases, as it collaborates closely with Perceptive Advisors, a reputable life sciences investor.