Supernus secures $42M through two transactions
Published on January 7, 2012 at 1:35 AM
Supernus Pharmaceuticals, Inc. today 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.