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Raptor Pharmaceuticals gets $50mm under agreement with HealthCare Royalty Partners; $10mm added

Executive Summary

Large-molecule drug developer Raptor Pharmaceutical Corp. has signed a $50mm loan commitment with HealthCare Royalty Partners. It gets $25mm up front, with the remainder to follow upon FDA approval of Procysbi (cysteamine) for cystinosis; an NDA and MAA have been filed. The two tranches bear an annual fixed interest rate of 10.75% and a Synthetic Royalty variable rate to be tiered down based on a percentage of future Procysbi sales. The loan is interest-only for the first two years. The money will be used to continue developing Procysbi through approval and to launch the drug.
Deal Industry
  • Biotechnology
    • Large Molecule
  • Pharmaceuticals
    • Drug Delivery
      • Macromolecule
      • Site Specific
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Equity
    • Nonconvertible Debt
    • Other
    • Private Placement

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