Gossamer Bio Secures Debt Facility for up to $150 Million

SAN DIEGO–(BUSINESS WIRE)–Gossamer
Bio, Inc.
(Nasdaq:GOSS), a clinical-stage biopharmaceutical company
focused on discovering, acquiring, developing and commercializing
therapeutics in the disease areas of immunology, inflammation and
oncology, today announced it entered into a five-year senior debt
facility led by MidCap Financial (MidCap).

The lenders under the debt facility, including affiliates of MidCap,
will make available to Gossamer an aggregate principal amount up
to $150 million. $30 million of the facility will be funded at closing,
with the ability to access the remaining $120 million, subject to the
achievement of certain clinical development milestones and other
customary conditions. The facility provides the company with access to
capital for general corporate purposes and to support the development of
Gossamer’s development candidates.

This flexible arrangement with MidCap, in addition to our existing
strong cash position, allows us to focus on the advancement of our
robust pipeline of potential treatments in immunology, inflammation and
oncology,” said Sheila Gujrathi, Gossamer’s Chief Executive Officer. “We
are pleased to have the support of a specialty finance firm like MidCap.”

About Gossamer Bio

Gossamer Bio is a clinical-stage biopharmaceutical company focused on
discovering, acquiring, developing and commercializing therapeutics in
the disease areas of immunology, inflammation and oncology. Its goal is
to be an industry leader in each of these therapeutic areas and to
enhance and extend the lives of patients suffering from such diseases.

About MidCap Financial

MidCap Financial is a middle market-focused, specialty finance firm that
provides senior debt solutions to companies across all industries.
MidCap is headquartered in Bethesda, MD, with offices in Chicago and Los
Angeles, and provides a broad array of products intended to finance
growth and manage working capital. For more information, visit www.midcapfinancial.com.

MidCap Financial refers to MidCap FinCo Designated Activity Company, a
private limited company domiciled in Ireland, and its subsidiaries,
including MidCap Financial Services, LLC. MidCap Financial Services, LLC
employs all personnel and provides sourcing, due diligence and portfolio
management services to MidCap FinCo Designated Activity Company pursuant
to a services agreement. MidCap Financial is managed by Apollo Capital
Management, L.P., a subsidiary of Apollo Global Management (NYSE: APO),
pursuant to an investment management agreement.

Forward-Looking Statements

Gossamer cautions you that statements contained in this press release
regarding matters that are not historical facts are forward-looking
statements. These statements are based on the company’s current beliefs
and expectations. Such forward-looking statements include, but are not
limited to, statements regarding the financial capacity available under
the new senior debt facility, including the potential for Gossamer to
draw down additional tranches, and plans to advance our product
candidates. The inclusion of forward-looking statements should not be
regarded as a representation by Gossamer that any of its plans will be
achieved. Actual results may differ from those set forth in this press
release due to the risks and uncertainties inherent in Gossamer’s
business, including, without limitation: potential delays in the
commencement, enrollment and completion of clinical trials; the
company’s dependence on third parties in connection with product
manufacturing, research and preclinical and clinical testing; the
success of Gossamer’s clinical trials and preclinical studies for its
product candidates; regulatory developments in the United States and
foreign countries; unexpected adverse side effects or inadequate
efficacy of the company’s product candidates that may limit their
development, regulatory approval and/or commercialization, or may result
in recalls or product liability claims; Gossamer’s ability to obtain and
maintain intellectual property protection for its product candidates;
Gossamer’s ability to comply with its obligations in the agreements
under which it licenses intellectual property rights from third parties;
the risk that the funding under the new senior debt facility may not be
completed on the timeframe Gossamer expects, or at all, including as a
result of Gossamer’s failure to meet the conditions required for such
funding or failure to comply with the affirmative and negative covenants
under the credit facility; and other risks described in the company’s
prior press releases and the company’s filings with the Securities and
Exchange Commission (SEC), including under the heading “Risk Factors” in
the company’s annual report on Form 10-K and any subsequent filings with
the SEC. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof, and
Gossamer undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, which is made under the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.

Contacts

Gossamer Bio:
For Investors:
Argot Partners
Kimberly
Minarovich
Tel 212.600.1902
gossamerbio@argotpartners.com

For Media:
Argot Partners
David Rosen
Tel 212.600.1902
david.rosen@argotpartners.com

error: Content is protected !!