14/02/2018 20:36:15

Veloxis Secures USD 60M in Debt Financing

Related content
31 Mar - 
Veloxis Announces the Total Number of Shares and Voting..
28 Mar - 
Veloxis Announces the Publication of ASERTAA (A Study o..
22 Mar - 
Notice to Convene Annual General Meeting 2018
Related debate
18 May - 
Den må jeg have misset... Burde regnskabet såvel som ko..
18 May - 
At tyde ud fra kommentarer i.f.m. seneste regnskab, er ..
18 May - 
Jeg ser foreløbig også den manglende kursstigning som e..

Company Release no. 01/2018

   

To: NASDAQ Copenhagen A/S                                                       14 February 2018

 

Veloxis Secures USD 60M in Debt Financing

 

Cary, NC, February 14, 2018 -- Veloxis Pharmaceuticals A/S (OMX:VELO), a specialty pharmaceutical company committed to improving the lives of transplant patients, today announced that it has obtained USD 60 million of capital from funds managed by Athyrium Capital Management, LP (“Athyrium”), a leading healthcare-focused investment firm. The proceeds from the commitment will be used to refinance Veloxis’s outstanding debt, accelerate the growth of Envarsus XR in the U.S. and help fund working capital of Veloxis Pharmaceuticals, Inc.

“We are pleased to have this opportunity to collaborate with Athyrium, a partner known for its strategic investments in healthcare. The USD 60 million non-dilutive financing enhances our cash position and provides the Company with the capital needed to execute on our commercial strategy with Envarsus. Athyrium is also committed to being a long-term partner for the Company to help fund future business development opportunities which we believe will maximize long term shareholder value,” said Craig Collard, President and Chief Executive Officer of Veloxis. 

Richard Pines, Partner at Athyrium, stated: “We are excited about funding the commercial launch of Envarsus XR. Its strong traction in a genericized market is an indication of the strength of its clinical profile, as transplant surgeons and nephrologists seek to best manage transplant rejection and immunosuppression in this fragile patient population. In addition to our interest in Envarsus XR, we are very impressed with the Veloxis management team and look forward to partnering with them as they seek to grow through business development initiatives.”

 

Transaction Terms

This financing is in the form of a five-year, floating rate, interest only note. The initial principal balance doubles the amount of debt at substantially the same cost of capital versus the previous debt instrument. The funds are structured with USD 60 million available immediately upon closing of the transaction to Veloxis Pharmaceuticals, Inc., and guaranteed by Veloxis Pharmaceuticals A/S.

 

For more information, please contact:

Craig A. Collard

President & CEO          

Phone: +1 919 591 3090         

Email: cac@veloxis.com

 

About Veloxis Pharmaceuticals

Veloxis Pharmaceuticals A/S is a biopharmaceutical company focused on improving patient lives by identifying, developing, and commercializing meaningful products in transplantation and adjacent therapies. Utilizing our proprietary drug delivery technology (MeltDose®), Veloxis has developed and obtained FDA and EMA approval for our product, Envarsus XR (tacrolimus extended-release tablets), to aid in the prophylaxis of organ rejection in transplant recipients.  Our strategy is to continue to commercialize Envarsus XR in the U.S. with a direct salesforce and to license rights to Envarsus to proven commercial partners in other territories around the world.  In addition to expanding use of Envarsus, Veloxis is actively seeking business development and licensing targets within the areas of transplantation and adjacent specialties, and therapeutics for rare or severe disease for which chronic therapy is initiated in the large hospital setting.  Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO.  For further information, please visit www.veloxis.com.

 

About Athyrium Capital Management

Athyrium Capital Management, LP, is a specialized asset management company that invests in the global healthcare sector. As of December 31, 2017, Athyrium had approximately $3.5 billion of assets under management. The Athyrium team has substantial investment experience in the healthcare sector across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals, including biopharma, medical devices and products, and healthcare focused services. The Athyrium team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
15 May
VELO
Har lyttet til det nu. Ikke så meget nyt, men bider mærke i, at Envarsus bliver mere og mere en fast..
13
14 May
VELO
Nu begynder Veloxis at levere varen. Det er klart, at med en vækst 142% i omsætning i forhold til Q1..
13
14 May
VELO
Imponerende vækst.... Det lover godt kombineret med de kommende nyheder omkring partnerskaber og De ..
12
15 May
VELO
For lige at sætte markedsmulighederne for EnvarsusXR i perspektiv, kommer der hver måned ca. 3000 ny..
10
14 May
VELO
Væksten fra Q1 2016 til Q1 2017 var på 100%. Til sammenligning er væksten fra Q1 2017 til Q1 2018 på..
8
18 May
VELO
At tyde ud fra kommentarer i.f.m. seneste regnskab, er der i mine øjne ingen tvivl om, at selskabet ..
7
17 May
VELO
msn. Som jeg ser det lider Veloxis stadig under, at de har en tidligere ledelse som lovede guld og g..
6
14 May
VELO
Veloxis Pharmaceuticals Announces Financial Results for the First Three Months of 2018 Velox..
6
17 May
VELO
Jeg ser ingen grund til, ikke at være optimistisk - Meltdoseteknologien er stadigvæk andre produktio..
5
15 May
VELO
VELO skriver selv i deres viksomhedsoversigt 2017 de har patent på Meldoseteknologien til 2028 i USA..
5

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
8th Continent joins the Bancor decentralised liquidity network
2
Lambert Catches Record-Breaking Limit to Take Lead after Day Three of FLW Tour at Kentucky Lake Presented by Costa Sunglasses
3
Larson Electronics LLC Releases 10 Million Candlepower Rechargeable Handheld LED Spotlight
4
TheRecover.com, Columbus Drug Rehabs Can Help
5
TheRecover.com, Drug Detoxification For San Jose Residents

Related stock quotes

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
20 May 2018 16:36:45
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180515.2 - EUROWEB1 - 2018-05-20 17:36:45 - 2018-05-20 16:36:45 - 1000 - Website: OKAY