Humacyte and Oberland Capital Announce Funding Agreement Totaling Up to $160 Million

$40 million upfront, $20 million upon FDA acceptance of HAV BLA in vascular trauma, $40 million upon FDA approval of HAV in vascular trauma, $50 million upon achievement of certain sales milestones, and $10 million equity option
Proceeds to support planned development and commercialization of HAV and earlier-stage product candidates

DURHAM, N.C., May 12, 2023 – Humacyte, Inc. (Nasdaq: HUMA) and Oberland Capital Management LLC (Oberland Capital) today announced a $150 million, capped funding arrangement based on future revenues of Humacyte’s Human Acellular Vessel™ (HAV™), as well as a $10 million equity investment option. Funding provided to Humacyte under the arrangement includes:

$40 million upfront
$20 million upon U.S. Food and Drug Administration (FDA) acceptance of Humacyte’s planned BLA for use of the HAV in urgent arterial repair following extremity vascular trauma
$40 million upon FDA approval of the BLA for use of the HAV in vascular trauma
$50 million upon achievement of certain sales milestones

Humacyte has also granted an option for Oberland Capital to purchase up to $10 million in common stock priced at the greater of $7.50 per share or the market price per share.

“We are very pleased to enter into this funding arrangement with Oberland Capital that extends our cash runway and provides additional resources to support our development and commercialization initiatives, particularly as we move closer to our planned BLA filing,” said Dale Sander, Chief Financial Officer of Humacyte. “We are excited to partner with the team at Oberland Capital and appreciate their extensive experience in the life science industry.”

Michael Bloom, Partner at Oberland Capital added: “We are excited to enter into this revenue-based funding agreement with Humacyte as it prepares for the launch of its innovative HAV in urgent arterial repair following vascular trauma. We look forward to helping the company achieve its long-term objective of bringing this important product to market in multiple future vascular applications.”

About Oberland Capital

Oberland Capital is a private investment firm formed in 2013 with assets under management in excess of $3 billion, focused exclusively on investing in the global healthcare industry and specializing in flexible investment structures customized to meet the specific needs of its transaction partners. Oberland Capital’s broad suite of financing solutions includes monetization of royalty streams, acquisition of future product revenues, creation of project-based financing structures, and investments in traditional debt and equity. With a combination of deep industry knowledge and extensive structured finance experience, the Oberland Capital team has a history of creating value for its transaction partners.

For more information, please visit www.oberlandcapital.com or contact Johnna Schifilliti at (212) 257-5850.

About Humacyte

Humacyte, Inc. (Nasdaq: HUMA) is developing a disruptive biotechnology platform to deliver universally implantable bioengineered human tissues, advanced tissue constructs, and organ systems designed to improve the lives of patients and transform the practice of medicine. The Company develops and manufactures acellular tissues that have the potential to treat a wide range of diseases, injuries, and chronic conditions. Humacyte’s initial opportunity, a portfolio of HAVs, is currently in late-stage clinical trials targeting multiple vascular applications, including vascular trauma repair, AV access for hemodialysis, and peripheral arterial disease. Preclinical development is also underway in coronary artery bypass grafts, pediatric heart surgery, treatment of type 1 diabetes, and multiple novel cell and tissue applications. Humacyte’s 6mm HAV for AV access for performing hemodialysis was the first product candidate to receive the FDA’s Regenerative Medicine Advanced Therapy (RMAT) designation and has also received FDA Fast Track designation. Humacyte’s 6mm HAV for urgent arterial repair following extremity vascular trauma also has received RMAT designation. The HAV received priority designation for the treatment of vascular trauma by the U.S. Secretary of Defense. The HAV is an investigational product and has not been approved for sale by the FDA or any other regulatory agency.

For more information, visit www.Humacyte.com.

Humacyte Investor Contact:
Joyce Allaire
LifeSci Advisors LLC
+1-617-435-6602
jallaire@lifesciadvisors.com
investors@humacyte.com

Humacyte Media Contact:
Rich Luchette
Precision Strategies
+1-202-845-3924
rich@precisionstrategies.com
media@humacyte.com