The Debt Finance team advised FibroGen, Inc. (NASDAQ: FGEN) in its non-dilutive term loan facility with investment funds managed by Morgan Stanley Tactical Value (MSTV) that will result in proceeds to FibroGen of up to $150 million, bringing significant non-dilutive capital to support growth and innovation.

The $150 million term loan facility will be available to FibroGen, Inc. in three tranches: the initial tranche of $75 million will be funded by May 8, 2023; the second tranche of $37.5 million will be funded in the third quarter of 2023 upon achievement of certain clinical development milestones; and MSTV has the option to fund a third tranche of up to $37.5 million in the third quarter of 2023.

FibroGen, Inc. is a biopharmaceutical company committed to discovering, developing, and commercializing a pipeline of first-in-class therapeutics.

MSTV, a team within Morgan Stanley Investment Management, provides nimble capital with the flexibility to invest across asset classes, sectors and geographies in changing market environments providing the flexibility to partner with companies to support their unique strategic and financial objectives.

The Goodwin team consisted of Kris Ring, Mohammed Alvi, Zhe Yang, Christina Flynn and Carlos Martinez (Debt Finance); George Davis and Jenny Hyesu Kwun (Tax); Jacob R. Osborn and Jason Wilcox (Sanctions); Nathan J. Brodeur (Environmental); Roger Cohen and Heath Ingram (Healthcare); Natascha George (ERISA); Joel E. Lehrer (IP); Tim Worden and Lucy Sharples (Life Sciences); Yasin Akbari (Corporate); and Amy Arnelle (Senior Paralegal).

For more details, read the press release.