Eiger BioPharmaceuticals, Inc. announced that it has completed a $25 million debt financing transaction with Oxford Finance LLC. Proceeds of the financing are intended for use to advance Eiger's diverse pipeline of clinical stage programs for the treatment of rare diseases, including the company's lead program for hepatitis delta virus (HDV) infection, the most severe form of viral hepatitis. The financing is structured as a two-part transaction, comprising of an initial $15 million tranche drawn on December 30, 2016 and a second $10 million tranche, which can be taken at a future date at the company's discretion based on the achievement of pre-defined development milestones. The initial payments to be made by Eiger on the facility will consist of interest-only payments for 18 months, through second quarter of 2018.