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Raptor Pharmaceuticals gets $50mm under agreement with HealthCare Royalty Partners; $10mm added
14 Sep 2018
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
- Pharmaceuticals
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Pharmaceuticals
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Drug Delivery
- Macromolecule
- Site Specific
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Drug Delivery
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Biotechnology
- Large Molecule
Deal Status
- Final
Deal Type
-
Financing
- Nonconvertible Debt
- Other
- Private Investment in Public Equity
- Private Placement
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Raptor Pharmaceuticals gets $50mm under agreement with HealthCare Royalty Partners; $10mm added
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