---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-040024"
form_type: "8-K"
ticker: "MLYS"
cik: "0001933414"
company_name: "Mineralys Therapeutics, Inc."
filed_at: "2026-06-03T10:02:29+00:00"
generated_at: "2026-06-03T10:11:21.519349+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mineralys terminates lorundrostat royalties, secures up to $500M debt facility

## Summary
- Amended Tanabe license: $200M one-time payment; royalties eliminated; license perpetual; up to $365M in milestones remain.
- Secured $500M senior secured loan; $100M drawn; further tranches tied to FDA approval and net sales.
- Loan matures 2031; interest SOFR+5.5% (floor 3.25%); secured by all assets including IP.
- Change of control would accelerate $100M new milestone payments.

## SEC filing metadata
- accession: 0001628280-26-040024
- form_type: 8-K
- ticker: MLYS
- cik: 0001933414
- company_name: Mineralys Therapeutics, Inc.
- filed_at: 2026-06-03T10:02:29+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1933414/000162828026040024/0001628280-26-040024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1933414/000162828026040024/mlys-20260602.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-040024
- JSON: https://secwatch.observer/filing/0001628280-26-040024.json
- Plain text: https://secwatch.observer/filing/0001628280-26-040024.txt

## Key facts
- Material Agreements
  Mineralys Therapeutics, Inc. entered into Senior Secured Term Loan Agreement with BioPharma Credit PLC valued at Up to $500,000,000 in term loans (effective 2026-06-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: BioPharma Credit PLC
  - Value: Up to $500,000,000 in term loans
  - Effective: 2026-06-02
  source text: On June 2, 2026 (the “Closing Date”), the Company entered into a senior secured term loan agreement (the “Loan Agreement”) with BioPharma Credit PLC, as collateral agent (the “Agent”), and each of BPCR Limited Partnership and BioPharma Credit Investments V (Master) LP, which are funds managed by Pharmakon Advisors, LP, as lenders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1933414/000162828026040024/0001628280-26-040024-index.htm

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