CAMBRIDGE, Mass., July 18, 2017 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a U.S. commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, today announced that it has entered into credit and security agreements with MidCap Financial. Under the terms of the agreements, Sarepta can borrow up to $60,000,000 in three tranches at an annual rate of 6.25%, plus one-month LIBOR, and a $40,000,000 revolver at a rate of 3.95%, plus one-month LIBOR. Both facilities have a four year term.

Today’s financing replaces the Company’s $40,000,000 debt facility with MidCap Financial at an annual rate of 7.75%, with a maturity of June 2018.

About Sarepta Therapeutics

Sarepta Therapeutics is a U.S. commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying Duchenne muscular dystrophy (DMD) drug candidates. For more information, please visit www.sarepta.com.