BioPharma funds Collegium Pharmaceutical – BioPharma Credit has made a senior secured term loan agreement with Collegium Pharmaceutical, Inc. (traded on Nasdaq with the ticker COLL, with a current market capitalisation of about $680m).
The company is investing alongside BioPharma Credit Investments V (Master) LP. The company will invest $165m and BioPharma-V will top that up with another $35m.
Collegium Pharmaceutical is focused on developing and commercialising new medicines for responsible pain management . It currently markets Xtampza® ER, an “abuse-deterrent, extended-release, oral formulation of oxycodone and Nucynta® (tapentadol)“.
Collegium has provided net sales guidance for 2020 of $150m to $160m for Xtampza® ER and $170m to $180m for Nucynta®.
The loan will mature in January 2024 and will bear interest at 3-month LIBOR plus 7.5% a year (subject to a 2.0% floor) along with a one-time additional consideration of 2.5% of the loan amount, payable upon funding.
BPCR : BioPharma funds Collegium Pharmaceutical