IO Biotech secures up to €57.5M EIB debt facility; extends cash runway into Q2 2026

IO Biotech, Inc.

Total committed tranches of €37.5M (Tranche A €10M, B €12.5M, C €15M) plus €20M uncommitted accordion.
First two tranches expected for disbursement in Q1 2025; each tranche matures in 6 years at 8% fixed interest.
Tranche C requires $50M cash raise and US or EU marketing authorization submission for IO102-IO103 within 36 months.
Warrants to be issued to EIB upon each tranche disbursement; loan is unsecured with no minimum cash covenants.
Cash runway now expected into Q2 2026, funding ongoing clinical trials and pre-commercialization activities.

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