The financing included a $30m equity investment and a $50m ‘synthetic royalty’ agreement tied to future sales of the company’s Meningitec and HibTITER vaccines, alongside other products.
Proceeds will support the commercialisation and expansion of Meningitec, recently acquired from Pfizer. In addition, proceeds will be used to support the clinical development of the company’s novel biologics and vaccines for infectious and neurodegenerative diseases.
“It is unique to find an emerging specialty pharmaceutical company that has near-term access to revenues from well-established commercial products as well as tremendous upside from a promising pipeline of novel drug candidates in treating serious diseases,” said Gregory Brown, MD, founding managing director of HC Royalty. “We are confident that Nuron can build the infrastructure to expand Meningitec’s market in Europe while capitalising on new markets with unvaccinated and under-vaccinated populations.”
Copyright © 2012 AltAssets