Brought to you by 
MannKind to receive up to $160mm in debt financing from Deerfield Management
29 Jun 2017
Executive Summary
Deerfield Management has agreed to purchase up to $160mm in six-year 9.75% senior secured convertible notes from MannKind Corp. to fund regulatory and commercial activities for the company’s Afrezza inhaled insulin. The financing consists of an up-front payment of $40mm and three $40mm tranches to be received on the following milestones: upon the release of certain Phase III trial results; concurrent with repayment of MannKind’s 3.75% senior convertible notes due 2013; and following FDA approval of Afrezza. In addition, Deerfield paid MannKind $18.9mm in return for rights to receive up to $90mm in strategic and sales milestones relating to the drug.
Deal Industry
- Biotechnology
- Medical Devices
- Pharmaceuticals
-
Pharmaceuticals
-
Drug Delivery
- Pulmonary
-
Drug Delivery
Deal Status
- Final
Deal Type
-
Financing
- Convertible Debt
- Private Placement
Already a Biomedtracker subscriber?
You have access to the full deal record through your subscription
Want to become a subscriber?
Subscribers get more deal details, updates, deal financials and deal products.
Questions?
Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
Related Companies
You must sign in to use this functionality
Authentication.SignIn.HeadSignInHeader
MannKind to receive up to $160mm in debt financing from Deerfield Management
Email Deal
All set! This article has been sent to my@email.address.
All fields are required. For multiple recipients, separate email addresses with a semicolon.
DCD.EmailPopout.Notice