Intellia secures up to $400 million credit facility from OrbiMed

Intellia Therapeutics announced on September 4, 2026 that it had signed a Credit Agreement with lenders affiliated with OrbiMed, establishing a five-year senior secured credit facility of up to $400 million, structured in tranches including $75 million drawn at closing, a potential $75 million draw tied to FDA approval of the biologics license application for lonvoguran ziclumeran (lonvo-z), three potential $40 million draws tied to lonvo-z revenue targets, a potential $30 million draw tied to an equity fundraising target, and an uncommitted additional $100 million subject to mutual agreement between the company and lenders.¹

The facility is designed to give Intellia funding as it works toward lonvo-z's planned U.S. approval and launch as a one-time treatment for hereditary angioedema, according to the filing.

The Credit Facility matures on September 4, 2031, with outstanding loans bearing interest at the greater of 3.00% or one-month SOFR, plus a 6.15% applicable margin, payable monthly.¹ The obligations are secured by a first-priority interest in substantially all of the company's assets, including intellectual property.¹ Covenants include a requirement to maintain at least $50 million in liquidity until FDA approval of the lonvo-z BLA, along with additional financial and negative covenants restricting new debt, liens, acquisitions, asset sales, and dividend payments, among other items.¹

Company executives framed the deal as a way to fund upcoming milestones. Intellia's Chief Financial Officer, Edward Dulac, said lonvo-z "has the potential to transform the treatment paradigm for people living with HAE as well as the future capital needs of our company."¹ Lonvo-z is described as an in vivo CRISPR gene editing candidate intended to permanently lower kallikrein by inactivating the KLKB1 gene through a single outpatient dose, with the potential to become the first one-time HAE treatment.¹