Turn Therapeutics, Inc. (Nasdaq: TTRX), a clinical-stage dermatology company, has announced a significant financing agreement with Avenue Venture Opportunities Fund II, L.P. The agreement provides for a growth capital loan facility of up to $25 million, which includes an initial tranche of $7 million funded at closing. The remaining funds will be available upon the achievement of specific clinical and corporate milestones. This financing is crucial for Turn Therapeutics as it approaches key clinical trial milestones, particularly for its lead candidate, GX-03, which is in development for moderate-to-severe atopic dermatitis. The company also aims to advance its program for onychomycosis, a nail fungus condition. CEO Brad Burnam emphasized the importance of this financing at a pivotal moment for the company, as it prepares for the mid-year readout of its Phase 2 trial in atopic dermatitis. The funds are expected to extend the company's operational runway through the anticipated readout and support preparations for registrational trials. Avenue Capital Group expressed confidence in Turn Therapeutics' clinical progress and the potential of its therapies, indicating a strong partnership moving forward.

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