Turn Therapeutics secures up to $25M in financing

Turn Therapeutics (TTRX) entered into a growth capital loan facility with Avenue Venture Opportunities Fund II for up to $25M. The facility includes an initial $7M tranche funded at closing, with up to an additional $18M available upon achievement of clinical and corporate milestones. Funds from the initial tranche of the Avenue Capital Group financing are expected to extend Turn Therapeutics’ runway through its Phase 2 atopic dermatitis readout and support preparation for registrational trials for GX-03 as a treatment for moderate-to-severe atopic dermatitis and onychomycosis. The Company anticipates that proceeds from the full financing will extend the runway through the end of 2027.