08:02 AM EDT, 09/03/2025 (MT Newswires) -- Precigen ( PGEN ) said Wednesday that it has signed a two-tranche credit facility deal of up to $125 million with investment funds managed by Pharmakon Advisors.

The first tranche of $100 million was financed at closing, while the second tranche of $25 million can be drawn by Precigen ( PGEN ) through March 31, 2027, the biopharmaceutical company said.

The $100 million tranche will support US commercialization of Papzimeos immunotherapy to treat recurrent respiratory papillomatosis in adults, the company said.

Precigen ( PGEN ) said the credit facility would mature on the fifth anniversary of the first tranche's closing date.

Shares of Precigen ( PGEN ) were up more than 3% in recent Wednesday premarket activity.