The US Bankruptcy Court gave an order to MabVax Therapeutics Holdings, Inc. to obtain DIP financing on final basis on April 4, 2019. As per the order, the debtor has been authorized to obtain a DIP term loan facility of $0.50 million from BioNTech Research and Development, Inc. The DIP loan would carry an interest rate of 8% p.a., along with an additional 2% p.a. interest in the event of default. The DIP facility would mature on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. The lender is represented by Dianne Coffino and Martin Beeler of Covington & Burling LLP as legal counsel. The Court had granted the debtor an interim approval to access $0.2 million as DIP financing on March 22, 2019.