CARY — Veloxis Pharmaceuticals A/S (OMX: VELO), a specialty pharmaceutical company focused on organ transplant technology, has received $60 million in debt financing from Athyrium Capital Management, a healthcare investment firm.
The financing is in the form of a five-year, floating rate, interest only note.
Veloxis Pharmaceuticals A/S is a biopharmaceutical company focused on identifying, developing, and commercializing meaningful products in transplantation and adjacent therapies. Veloxis has developed and obtained FDA and EMA approval for its product, Envarsus XR (tacrolimus extended-release tablets) to help prevent transplant organ rejection.
The proceeds from the commitment will be used to refinance Veloxis’s outstanding debt, accelerate the growth of Envarsus XR in the US and help fund working capital.
Craig Collard, president and CEO of Veloxis said in a statement, “We are pleased to have this opportunity to collaborate with Athyrium, a partner known for its strategic investments in healthcare. The $60M 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,”
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.
