TriSalus Life Sciences Secures Up to $50M in Debt Financing from OrbiMed for TriNav® Infusion System Growth

TriSalus Life Sciences Inc. (Nasdaq: TLSI) has finalized a debt financing agreement of up to $50 million with OrbiMed, a leading healthcare investment firm. This capital infusion aims to offer financial flexibility, enabling the company to execute strategic expansion initiatives and sustain ongoing growth.

Under the recently signed Credit Agreement with OrbiMed, TriSalus Life Sciences Inc. (Nasdaq: TLSI) secured an initial loan of $25 million, with the option to access an additional $25 million in two tranches based on specific revenue targets. The five-year Credit Agreement, maturing in April 2029, includes a warrant issuance to OrbiMed for the purchase of 130,805 shares of TriSalus’ common stock at an exercise price of $9.5562. With this financing and existing cash reserves, TriSalus anticipates financial stability through 2025.

Mary Szela, CEO of TriSalus Life Sciences, expressed enthusiasm about the partnership with OrbiMed, highlighting its role in funding strategic growth initiatives for the company’s TriNav® Pressure Enabled Drug Delivery™ (PEDD™) technology. Szela emphasized the potential of this funding to advance the company’s technology pipeline and achieve break-even EBITDA for the TriNav business by 2025, reducing reliance on near-term equity financing.

Matthew Rizzo, General Partner at OrbiMed, echoed the sentiment, affirming their commitment to supporting TriSalus’ strategic goals and providing the financial means for TriNav commercial expansion and technology pipeline development.

Cantor Fitzgerald & Co. served as TriSalus’ sole placement agent, and Cooley LLP provided legal counsel for the transaction. Covington & Burling LLP represented OrbiMed as legal counsel.

TriSalus Life Sciences focuses on oncology-driven medical technology, particularly in enhancing therapeutics delivery to liver and pancreatic tumors. Its proprietary PEDD approach aims to optimize drug delivery while minimizing collateral damage to healthy tissues. Partnering with renowned cancer centers nationwide, TriSalus aims to pioneer innovations that enhance patient outcomes.

OrbiMed, with approximately $17 billion in assets under management, is a global healthcare investment firm. Its diverse portfolio spans private equity, public equity, and royalty/credit funds, investing across the healthcare spectrum to drive innovation and improve patient care worldwide.

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