---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-033233"
form_type: "8-K"
ticker: "TTRX"
cik: "0002023016"
company_name: "Turn Therapeutics Inc."
filed_at: "2026-03-24T23:59:59+00:00"
generated_at: "2026-05-15T09:16:30.244775+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Turn Therapeutics secures up to $25M growth capital loan from Avenue Capital Group

## Summary
- Initial $7M tranche funded at closing; up to $18M additional available upon clinical and corporate milestones.
- Interest rate = greater of prime + 5.50% or 12.25%; maturity October 1, 2029; no financial covenants.
- Lender receives $1.2M equity grant and conversion option up to $3M principal at 80% of closing price.
- Proceeds expected to extend runway through Phase 2 atopic dermatitis readout and support GX-03 registrational trials.
- Company anticipates full financing extends runway through end of 2027.

## SEC filing metadata
- accession: 0001213900-26-033233
- form_type: 8-K
- ticker: TTRX
- cik: 0002023016
- company_name: Turn Therapeutics Inc.
- filed_at: 2026-03-24T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/0001213900-26-033233-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/ea0282926-8k_turn.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-033233
- JSON: https://secwatch.observer/filing/0001213900-26-033233.json
- Plain text: https://secwatch.observer/filing/0001213900-26-033233.txt

## Source-grounded claims
- claim_id: f4d07b80503083ec92a5f4d795a163e029542e58
  claim: Turn Therapeutics Inc. incurred term loan of up to $25.0 million with Avenue Venture Opportunities Fund II, L.P. at greater of (x) the sum of 5.50% plus the prime rate as reported in The Wall Stre maturing October 1, 2029.
  evidence_excerpt: On March 23, 2026 (the “Closing Date”), Turn Therapeutics Inc. (the “Company”) entered into a Loan and Security Agreement (the “Loan and Security Agreement”) and a Supplement to the Loan and Security Agreement (the “Supplement” and, together with the Loan and Security Agreement, the “Loan Agreement”), with Avenue Venture Opportunities Fund II, L.P., as administrative agent, collateral agent (in such capacities, the “Agent”) and as a lender (in such capacity, together with each other lender from time to time party thereto, the “Lender”). The Loan Agreement makes available to the Company term loans in an aggregate principal amount of up to $25.0 million with (i) $7.0 million funded within one business day of the Closing Date (“Tranche 1”) and (ii) up to $8.0 million to be made available to the Company between September 1, 2026 and March 31, 2027, subject to, among other things, the Company’s achievement of specified clinical and financing milestones (“Tranche 2”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/0001213900-26-033233-index.htm
- claim_id: 4102b3fa541b4fca9860623643eed207f72769f5
  claim: Turn Therapeutics Inc. entered into Loan and Security Agreement with Avenue Venture Opportunities Fund II, L.P. valued at up to $25.0 million (effective 2026-03-23).
  evidence_excerpt: On March 23, 2026 (the “Closing Date”), Turn Therapeutics Inc. (the “Company”) entered into a Loan and Security Agreement (the “Loan and Security Agreement”) and a Supplement to the Loan and Security Agreement (the “Supplement” and, together with the Loan and Security Agreement, the “Loan Agreement”), with Avenue Venture Opportunities Fund II, L.P., as administrative agent, collateral agent (in such capacities, the “Agent”) and as a lender
  evidence_url: https://www.sec.gov/Archives/edgar/data/2023016/000121390026033233/0001213900-26-033233-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.