Supernus Pharma Raises $15M Venture Debt
ROCKVILLE, MD, Two transactions in December bring total raised in Non-Dilutive financing to more than $165 Million. Proceeds from the transactions will be used to prepare for the commercial launch of its two lead product candidates in epilepsy.
Supernus Pharmaceuticals, Inc. announced that in December 2011 it closed two transactions through which it raised $42 million. The sale of its TCD Royalty Subsidiary, which was established in April 2008 to securitize royalties that were generated by Sanctura XR and Oracea, generated $27 million, while the second transaction, the issuance of venture debt, generated $15 million. Proceeds from the transactions will be used to prepare for the commercial launch of its two lead product candidates in epilepsy and to further the development of its pipeline designed to treat central nervous system (CNS) diseases.
"We have been able to raise more than $165 million through a series of five non-dilutive financing transactions that have enabled us to progress two epilepsy product candidates into NDA stage and two other product candidates in the ADHD area into Phase II. Since its inception six years ago, and despite the continued challenging financing environment, Supernus has developed a broad and diversified portfolio of product candidates that provides us with multiple opportunities to achieve our goal of becoming a leading CNS specialty pharmaceutical company," said Jack Khattar, President and Chief Executive Officer.
Supernus Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system, or CNS, diseases. The company's extensive expertise in product development has been built over the past 20 years: initially as a stand alone development organization, then as a U.S. subsidiary of Shire plc and, upon its acquisition of substantially all the assets of Shire Laboratories Inc. in late 2005, as Supernus Pharmaceuticals. The company is developing several product candidates in neurology and psychiatry to address large market opportunities in epilepsy and ADHD including ADHD patients with impulsive aggression. These product candidates include SPN-538 (extended-release topiramate) and SPN-804 (extended-release oxcarbazepine) for epilepsy, SPN-810 for impulsive aggression in ADHD and SPN-812 for ADHD.
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