MoonLake Immunotherapeutics secures up to $500 Million in non-dilutive financing

MoonLake has entered into an agreement with Hercules Capital, Inc., a leader in customized debt financing for companies in the life sciences and technology-related markets, for up to $500 million in non-dilutive capital. $75 million will be drawn down at close and additional tranches will become available upon achievement of certain pre-specified milestones that are aligned with MoonLake’s strategy and funding needs.

The additional capital strengthens MoonLake’s balance sheet and provides financial support to rapidly advance sonelokimab and bring to market an investigational “Nanobody” designed to directly target sites of inflammation by inhibiting all relevant IL-17 dimers (namely the IL-17A/A, IL-17A/F, and IL-17F/F dimers) and penetrating difficult-to-reach inflamed tissues.

Matthias Bodenstedt, Chief Financial Officer at MoonLake Immunotherapeutics, said: “We are extremely excited to partner with Hercules Capital that recognizes the value and potential of sonelokimab. We were able to secure deal terms, including a very sizable commitment and a highly competitive cost of capital. This financing facility further bolsters our already robust cash position without diluting our shareholders’ stakes and effectively removes any perceived financing overhang as we approach our pivotal data readout for the HS VELA program this summer.”

Bryan Jadot, Group Head and Senior Managing Director at Hercules Capital and John Miotti, Principal at Hercules Capital. added: "We are thrilled to partner with MoonLake Immunotherapeutics and support their mission of improving treatment outcomes for patients living with inflammatory diseases. This transaction highlights our commitment to empowering biotech companies as they navigate the critical path from clinical trials to market success"

Current Trials and Upcoming Data Readouts
MoonLake, founded in 2021 and listed on Nasdaq since 2022, is rapidly progressing a total of eight Phase 2 and Phase 3 clinical trials, plus other ancillary trials. The Company will hold an in-person and virtual Capital Markets Update on Tuesday, April 29, 2025, in New York, to discuss the Hercules partnership and provide important clinical updates, including the presentation of the baseline characteristics and expected primary endpoint readout date for the Phase 3 VELA program in hidradenitis suppurativa (“HS”), and an earlier-than-expected interim read out of the Phase 2 LEDA study in palmoplantar pustulosis (“PPP”), the first clinical trial in PPP for an IL-17A and IL-17F inhibitor.