November 26, 2025 — Leads & Copy — FibroBiologics, Inc. (Nasdaq: FBLG) has cleared all outstanding debts under its convertible promissory notes with YA II PN, Ltd. These notes were issued to Yorkville pursuant to the Standby Equity Purchase Agreement (SEPA) between FibroBiologics and Yorkville Advisors Global, LP, which was inked December 20, 2024.
The agreement allowed FibroBiologics to sell up to $25 million of its common stock to Yorkville over two years, subject to customary conditions. Yorkville had advanced the first $15 million available under the SEPA to FibroBiologics in three equal tranches of notes. These notes are now cleared, meaning no further conversions into company stock will occur.
The SEPA remains active until December 20, 2026, which allows FibroBiologics to sell an additional $10 million of its common stock to Yorkville if it chooses, again subject to certain stipulations.
FibroBiologics Founder and CEO Pete O’Heeron said that strengthening the company’s balance sheet and eliminating convertible debt would allow the company to focus on advancing into the clinic and beginning its first-in-human trials.
The company is advancing toward key clinical and regulatory goals, including the initiation of its Phase 1/2 clinical trial that will evaluate CYWC628, the company’s fibroblast-based spheroids product candidate, in patients with diabetic foot ulcers in early 2026. The company is also planning to submit Investigational New Drug applications for CYPS317 for the treatment of psoriasis, and CYMS101 for the treatment of multiple sclerosis.
For more information about the SEPA terms and conditions, refer to FibroBiologics’ filings with the Securities and Exchange Commission.
Nic Johnson, Russo Partners, (212) 845-4242, fibrobiologicsIR@russopr.com
Liz Phillips, Russo Partners, (347) 956-7697, Elizabeth.phillips@russopartnersllc.com
Source: FibroBiologics
