By Sabela Ojea
Evelo Biosciences and Horizon Technology Finance have entered a forbearance agreement, according to a Securities and Exchange Commission filing.
Clinical stage biotechnology company Evelo on Friday said that Horizon agreed to forbear exercising remedies related to potential defaults through Dec. 15.
Evelo Biosciences said it paid down $11 million of the principal amount of the loans outstanding and amended the mandatory prepayment provision of the loan agreement.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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