Athyrium | Jotup

Calliditas refinances existing term loan with Euro 92 million senior secured facility with Athyrium Capital

Retrieved on:

Wednesday, December 27, 2023

FDA, Sustainability, Person, Athyrium, Patent, CALT, Security (finance)

STOCKHOLM, Dec. 27, 2023 /PRNewswire/ -- Calliditas Therapeutics AB (Nasdaq: CALT) and (Nasdaq Stockholm: CALTX) ("Calliditas") today announced that the company has signed and fully drawn a term loan of 92 million Euros with funds managed by Athyrium Capital Management, LP ("Athyrium").

Key Points:

STOCKHOLM, Dec. 27, 2023 /PRNewswire/ -- Calliditas Therapeutics AB (Nasdaq: CALT) and (Nasdaq Stockholm: CALTX) ("Calliditas") today announced that the company has signed and fully drawn a term loan of 92 million Euros with funds managed by Athyrium Capital Management, LP ("Athyrium").
Proceeds from the loan will primarily be utilized for full repayment of the company's existing 68 million Euro loan with Kreos Capital.
The principal amount of the new loan is 24 million Euros greater than that of the prior facility.
"Signing this four-year term loan facility ensures an extension and expansion of our access to significant non-dilutive capital.

Calliditas refinances existing term loan with Euro 92 million senior secured facility with Athyrium Capital

Retrieved on:

Wednesday, December 27, 2023

FDA, Sustainability, Person, Athyrium, Patent, CALT, Security (finance)

STOCKHOLM, Dec. 27, 2023 /PRNewswire/ -- Calliditas Therapeutics AB (Nasdaq: CALT) and (Nasdaq Stockholm: CALTX) ("Calliditas") today announced that the company has signed and fully drawn a term loan of 92 million Euros with funds managed by Athyrium Capital Management, LP ("Athyrium").

Key Points:

STOCKHOLM, Dec. 27, 2023 /PRNewswire/ -- Calliditas Therapeutics AB (Nasdaq: CALT) and (Nasdaq Stockholm: CALTX) ("Calliditas") today announced that the company has signed and fully drawn a term loan of 92 million Euros with funds managed by Athyrium Capital Management, LP ("Athyrium").
Proceeds from the loan will primarily be utilized for full repayment of the company's existing 68 million Euro loan with Kreos Capital.
The principal amount of the new loan is 24 million Euros greater than that of the prior facility.
"Signing this four-year term loan facility ensures an extension and expansion of our access to significant non-dilutive capital.

RVL Pharmaceuticals plc Announces Prepackaged Reorganization of Certain U.S. Subsidiaries

Retrieved on:

Thursday, October 12, 2023

Bankruptcy, Pharmacy, Interest, LLP, RVL, Ernst & Young, Corporate action, Growth, United States bankruptcy court, United States Bankruptcy Court for the Southern District of New York, Ropes & Gray, Blepharoplasty, Patient, Security (finance), Financial services, Athyrium

BRIDGEWATER, N.J., Oct. 12, 2023 (GLOBE NEWSWIRE) -- RVL Pharmaceuticals plc (“RVL” or “the Company”), a specialty pharmaceutical company focused on the commercialization of UPNEEQ® (oxymetazoline hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or droopy eyelid, in adults, today announced that certain of its U.S. operating subsidiaries, RevitaLid Pharmaceutical Corp., RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC (the “RVL Subsidiaries”), have reached an agreement with their sole secured lenders, funds managed by Athyrium Capital Management (“Athyrium”), and other key stakeholders, to effectuate a change of control transaction through prepackaged bankruptcy cases commenced in the United States Bankruptcy Court for the District of Delaware today (the “Reorganization”). The Reorganization provides a structured pathway for the RVL Subsidiaries to significantly reduce their debt, while enabling them to streamline operations, maintain jobs and position themselves under new ownership. As a result of the Reorganization, RVL is expected to commence the wind-down of any remaining operations of the Company and its subsidiaries, other than the RVL Subsidiaries. RVL’s public equity is expected to be cancelled upon completion of its wind-down, anticipated to be during 2024, likely resulting in no recovery to public shareholders.

Key Points:

The Reorganization provides a structured pathway for the RVL Subsidiaries to significantly reduce their debt, while enabling them to streamline operations, maintain jobs and position themselves under new ownership.
As a result of the Reorganization, RVL is expected to commence the wind-down of any remaining operations of the Company and its subsidiaries, other than the RVL Subsidiaries.
The Reorganization contemplates that all of RVL Subsidiaries’ vendors, suppliers, and customers will be unaffected by the Reorganization, and their employees will remain employed by these entities.
The RVL Subsidiaries have filed a series of “First Day Motions” with the United States Bankruptcy Court for the District of Delaware.

Biora Therapeutics Reduces Debt and Largest Shareholder Increases Equity Exposure

Retrieved on:

Tuesday, September 19, 2023

Therapy, IND, SAN, Security (finance), Pharmaceutical industry, Athyrium

SAN DIEGO, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Biora Therapeutics, Inc. (Nasdaq: BIOR), the biotech company that is reimagining therapeutic delivery, today announced an agreement with certain funds managed by Athyrium Capital Management, to increase their equity exposure while improving the company’s balance sheet.

Key Points:

The exchange price of the common stock (or pre-funded warrant) issued in the exchange is $3.01 per share, a price representing a 44% premium to the closing price on Monday, September 18.
The exercise price of the common stock purchase warrants issued in the exchange is also $3.01 per share.
“This transaction represents further optimization of our capital structure to align it with Biora’s current development stage, and demonstrates Athyrium’s conviction in our programs,” said Eric d’Esparbes, Chief Financial Officer of Biora Therapeutics.
“We are very encouraged by the progress of the programs at Biora, and we remain committed to realizing the long-term value of its novel technologies,” said Jeffrey Ferrell, founder and Managing Partner of Athyrium Capital Management.

RVL Pharmaceuticals plc Reports Second Quarter 2023 Financial Results; Provides Update on Strategic Business Review

Retrieved on:

Monday, August 14, 2023

-- The Company streamlined operating expense in order to extend runway, optimize marketing mix, and support strategic business development --

Key Points:

UPNEEQ net product sales were $8.3 million, a decrease of $0.1 million, or 2%, from the second quarter of 2022.
5,400 cumulative unique medical aesthetics practices had placed orders for UPNEEQ at quarter end, an increase of 13% from the end of the first quarter of 2023.
Adjusted EBITDA1 loss was $(7.4) million, compared to an Adjusted EBITDA loss of $(11.8) million in the second quarter of 2022.
Adjusted EBITDA loss is reconciled from net loss, the most comparable GAAP financial measure, in the attached table “RVL Pharmaceuticals plc - GAAP to Non-GAAP Reconciliations” at the end of this press release.

BioCryst Reports First Quarter 2023 Financial Results and Provides Business Update

Retrieved on:

Wednesday, May 3, 2023

PIK, SG, BioCryst Pharmaceuticals, C2, RESEARCH, HAE, Pharmakon—Danish College of Pharmacy Practice, Patient, Investment, Webcast, R, Research, PARK, Pharmaceutical industry, Video game, Athyrium

RESEARCH TRIANGLE PARK, N.C., May 03, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq:BCRX) today reported financial results for the first quarter ended March 31, 2023, and provided a corporate update.

Key Points:

New patient growth remained strong, with a 20 percent increase in U.S. patient start forms in the first quarter of 2023 compared to the first quarter of 2022.
There were more new U.S. patient start forms in the first quarter of 2023 than in three of the four quarters in 2022.
Interest expense was $27.4 million in the first quarter of 2023, compared to $23.8 million in the first quarter of 2022 (+14.9 percent y-o-y).
ET today to discuss the financial results and provide a corporate update.

Societal CDMO Reports Fourth Quarter and Full Year 2022 Financial Results

Retrieved on:

Wednesday, March 1, 2023

SAN DIEGO and GAINESVILLE, Ga., March 01, 2023 (GLOBE NEWSWIRE) -- Societal CDMO, Inc. (“Societal CDMO”; NASDAQ: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today reported financial results for the fourth quarter and year ended December 31, 2022.

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ET
SAN DIEGO and GAINESVILLE, Ga., March 01, 2023 (GLOBE NEWSWIRE) -- Societal CDMO, Inc. (“Societal CDMO”; NASDAQ: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today reported financial results for the fourth quarter and year ended December 31, 2022.
During the year, we successfully met each of these goals, creating a stronger and more capable CDMO,” said David Enloe, chief executive officer of Societal CDMO.
Financial Results for the Three Months Ended December 31, 2022
Revenues for the quarter ended December 31, 2022 were $24.3 million and reflects our highest revenue quarter of the year as well as higher than any quarter in the past two years.
Selling, general and administrative expenses for the fourth quarter of 2022 were $6.0 million, compared to $5.3 million recorded in the 2021 period.

Amulet Capital Partners Acquires Eruptr

Retrieved on:

Tuesday, February 7, 2023

Banking, Professional Services, Finance, Hospital, Sidley Austin, Acquisition, Patient, Entrepreneurship, McDermott Will & Emery, Avista Capital Partners, Marketing, Growth, Athyrium, Medical imaging, Pharmaceutical industry, Amulet

Amulet Capital Partners, LP (“Amulet”), a middle-market private equity investment firm focused exclusively on the healthcare sector, today announced that it has acquired Eruptr LLC (“Eruptr” or the “Company”), an industry leader in healthcare digital marketing providing proprietary technology-enabled solutions.

Key Points:

Amulet Capital Partners, LP (“Amulet”), a middle-market private equity investment firm focused exclusively on the healthcare sector, today announced that it has acquired Eruptr LLC (“Eruptr” or the “Company”), an industry leader in healthcare digital marketing providing proprietary technology-enabled solutions.
Athyrium Capital Management (“Athyrium”), a specialized asset management company focused on opportunities in the global healthcare sector, is investing alongside Amulet.
Eruptr provides end-to-end technology-enabled healthcare digital services that allow clients to attract and retain patients and achieve marketing goals.
We will greatly benefit from the support of two experienced, operationally focused partners that intimately understand our business and landscape,” said J.K. Lloyd, Co-Founder and President of Eruptr.

Societal CDMO Completes Strategic Recast of Capital Structure Highlighted by Reduction and Refinancing of Outstanding Debt

Retrieved on:

Friday, December 16, 2022

SAN DIEGO and GAINESVILLE, Ga., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Societal CDMO, Inc. (“Societal CDMO”; NASD: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today announced the successful completion of its multi-step strategy designed to recast the company’s capital structure and strengthen its balance sheet. The company has closed three separate transactions, two of which were non-dilutive in nature, generating combined gross proceeds to Societal CDMO in excess of $100 million. The proceeds were immediately used to repay in full and retire the outstanding debt facility with Athyrium Capital Management, LP (Athyrium), removing Athyrium from its capital structure. In the process, the company also secured a new $36.9 million debt facility from Royal Bank of Canada with more favorable terms than those of its previous debt facility with Athyrium. In addition to significantly reducing the company’s total debt, the transactions helped improve the company’s net debt leverage ratio from greater than six times EBITDA to just over two times EBITDA, immediately reducing Societal CDMO’s annual interest burden by an estimated $6 million with the potential to increase that number to approximately $7 million annually.

Key Points:

The company has closed three separate transactions, two of which were non-dilutive in nature, generating combined gross proceeds to Societal CDMO in excess of $100 million.
The proceeds were immediately used to repay in full and retire the outstanding debt facility with Athyrium Capital Management, LP (Athyrium), removing Athyrium from its capital structure.
In the process, the company also secured a new $36.9 million debt facility from Royal Bank of Canada with more favorable terms than those of its previous debt facility with Athyrium.
Upon closing, Societal CDMO entered into a 20-year lease agreement with Tenet Equity, with multiple renewal options.

Societal CDMO Announces Closing of $35.6 Million Concurrent Public Offerings

Retrieved on:

Wednesday, December 14, 2022

Equity capital markets, Society, Security (finance), Sale, Athyrium, Royal Bank of Canada, DEA, Vesey Street, Prospectus, Telephone, Drug discovery, Excipient, Attention, IND, Risk, CDMO, RBC Capital Markets, COVID-19, Bank

The gross proceeds of the offerings were approximately $35.6 million, prior to deducting the underwriting discounts and estimated offering expenses.

Key Points:

The gross proceeds of the offerings were approximately $35.6 million, prior to deducting the underwriting discounts and estimated offering expenses.
RBC Capital Markets acted as sole book-running manager for the offerings.
The offerings were made only by means of the prospectuses and prospectus supplements that form a part of the registration statement.
These statements, among other things, relate to the Company’s expectations regarding the Company’s anticipated use of proceeds from the offerings, and other statements.