Verona inks financing deal worth up to $650M ahead of COPD decision

Verona Phar­ma has se­cured up to $650 mil­lion to aid the po­ten­tial launch of its COPD can­di­date en­sifen­trine.

Un­der new agree­ments with Oak­tree Cap­i­tal Man­age­ment and OMERS Life Sci­ences, Verona can ac­cess up to $400 mil­lion in term loans in five sep­a­rate tranch­es, plus up to $250 mil­lion from the sale of re­deemable in­ter­est in fu­ture en­sifen­trine rev­enue.

The phar­ma com­pa­ny is tak­ing out $55 mil­lion up­on clos­ing the debt fa­cil­i­ty, it an­nounced Thurs­day.

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