Neurizon Therapeutics has entered into a strategic research and development financing facility with the Dare Capital Loan Fund, providing up to $17.5 million in additional capital to support its work on treatments for neurodegenerative diseases.
The Melbourne-based company said an initial drawdown of approximately $8 million is expected to become available following execution of the facility. The funding relates to Neurizon’s estimated financial year 2026 R&D Tax Incentive refund.
The facility is structured as a secured loan, with Dare Capital holding first-ranking security solely over Neurizon’s R&D Tax Incentive refund. Interest will accrue at 1.25 per cent per month and capitalise monthly. Repayment will be triggered when the refund is received from the Australian Taxation Office, with all outstanding amounts due to be repaid by 31 December 2026, subject to market standard extension terms.
Neurizon said the arrangement carries no establishment fee and includes annual extension options covering its financial year 2027 and financial year 2028 R&D Tax Incentive claims.
The company described the facility as non-dilutive funding that will provide greater flexibility as it continues investing in the pivotal Phase 2/3 HEALEY ALS Platform Trial. Neurizon is developing its lead drug candidate, NUZ-001, as a potential treatment for amyotrophic lateral sclerosis, commonly known as ALS.
The financing builds on the funding strategy Neurizon announced in December 2025. The company said it would allow it to access capital generated through eligible research and development expenditure, including expenditure linked to the HEALEY trial following an Advance and Overseas Finding secured in September 2025.
Neurizon also said the facility would reduce its near-term reliance on other funding sources, including the Obsidian convertible note facility, as it moves toward an anticipated topline readout from the HEALEY trial in the second quarter of calendar year 2027.
The Dare Capital Loan Fund specialises in lending to companies with established research and development capabilities, using Australian Government R&D Tax Incentive refunds as security.
Neurizon Chief Financial Officer Dan O’Connell said the agreement represented an important development in the company’s approach to capital management.
“Entering into this facility is a meaningful step forward for Neurizon’s capital management strategy. By financing our anticipated R&D Tax Incentive refund, we are bringing forward non-dilutive capital earned through our investment in the HEALEY trial — capital that both strengthens our funding position and reduces our near-term need to access other forms of funding, including drawing on the Obsidian convertible note facility. This is precisely the kind of additional flexibility our funding strategy was designed to accommodate.
“We are also genuinely pleased with the quality and support of our counterparty. Dare and its supporting funds, bring real specialist expertise in R&D financing for life sciences companies. All parties have engaged with us in a thoroughly professional and collaborative manner, and we look forward to what we expect will be a long-term and strategically valuable relationship.”
