Annexon, Inc. entered into a Loan and Security Agreement with Oxford Finance LLC on July 30, 2026, securing a strategic credit facility for up to $200 million in term loans. The company drew an initial tranche of $50 million at closing, with additional tranches available upon achieving specified milestones related to its vonaprument and tanruprubart programs or through mutual agreement. Interest accrues at the greater of 1-Month CME Term SOFR plus 4.6% or 7.60%, with maturity dates ranging from July 2031 to June 2032 depending on milestone achievement. Monthly interest-only payments are required until September 2029, extendable based on performance, after which principal and interest repayments commence. This non-dilutive financing strengthens the balance sheet as the company advances its product candidates toward potential global commercialization. Annexon is a biopharmaceutical company developing targeted immunotherapies for neuroinflammatory diseases.