Mendus draws $1.7M in debt to fund runway into Q2 2027
What's the deal? MendusDealroom has a profile for this one. Try Dealroom →, a clinical-stage biopharmaceutical company developing immunotherapies for myeloid blood cancers, has drawn SEK 16.5 million (roughly $1.7 million) under the second tranche of a loan facility with Fenja Capital II A/SDealroom has a profile for this one. Try Dealroom →. The drawdown is expected to extend the company's cash runway into the second quarter of 2027.
How it works: Mendus entered the SEK 50 million facility with Fenja on November 18, 2025, split into two tranches. It drew SEK 30 million in January 2026; with this second draw of SEK 16.5 million, any remaining undrawn commitment is cancelled. Interest runs at 8% plus STIBOR 3M, which carries a 2% floor.
Why now? The extra flexibility comes ahead of upcoming clinical milestones across the company's AML and CML development programs. As part of the deal, Mendus and Fenja pushed the maturity date from January 31, 2027, to April 30, 2027.
The fine print: The arrangement fee for the amendments equals 2% of the total outstanding amount, or SEK 930K, payable to Fenja. All other terms remain unchanged.
The signal: Mendus, listed on Nasdaq Stockholm under the ticker IMMU.ST and based in Sweden and the Netherlands, is using debt rather than dilutive equity to bridge to its next clinical readouts — a common tactic for cash-conscious clinical-stage biotechs stretching capital ahead of data.
Read more: placera.se
Image credit: Generated with Gemini
