05:43 PM EST, 03/04/2024 (MT Newswires) -- Armata Pharmaceuticals ( ARMP ) said late Monday in entered into a $35 million credit agreement with a wholly owned subsidiary of its largest shareholder, Innoviva ( INVA ) .

The company plans to use the gross proceeds to advance its lead therapeutic candidates, including ones that target infections caused by Pseudomonas aeruginosa and Staphylococcus aureus.

The credit agreement with Innoviva Strategic Opportunities provides a term loan at 14% annually and matures on June 4, 2025.

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