Opiant erhält einmal 3,5 Mio USD Funding für sein Overdose Spray und einmal 50 Mio USD Convertible Anleihen.
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Opiant Pharma secures additional BARDA grant of $3.5M for OPNT003
Dec. 14, 2020 4:11 PM ETOpiant Pharmaceuticals, Inc. (OPNT)By: Vandana Singh, SA News Editor
Opiant Pharmaceuticals (NASDAQ:OPNT) has announced an additional commitment of up to $3.5M from the Biomedical Advanced Research and Development Authority (BARDA), to accelerate the development of OPNT003, nasal nalmefene, for opioid overdose.
The contract modification increases the total potential value of the BARDA contract to $8.1M.
Previously, the company received $4.6M from BARDA, as well as $7.4M grant from the National Institute on Drug Abuse. The additional BARDA support will fund both a planned pharmacodynamic study in healthy volunteers and development work associated with the use of Aptar Pharma’s Unit Dose System.
Opiant Pharmaceuticals receives $50M in convertible debt financing
Dec. 10, 2020 4:14 PM ETOpiant Pharmaceuticals, Inc. (OPNT)By: Khyathi Dalal, SA News Editor1 Comment
Opiant Pharmaceuticals (NASDAQ:OPNT) -1.44% AH, entered into a $50M convertible note purchase and security agreement with a syndicate of Pontifax Medison Finance, a healthcare-dedicated venture and debt fund, and Kreos Capital, Europe's leading growth debt firm.
Proceeds to be used for funding the potential future commercialization of OPNT003, nasal nalmefene, an investigational treatment for opioid overdose, which the company aims to file for approval by the U.S. FDA at the end of 2021.
Opiant will be able to draw up to $50M in three tranches: first tranche of $20M was funded at closing on Dec. 10, 2020; a second tranche of $10M will be available upon submission of a New Drug Application to the FDA; and a third tranche of $20M will be funded upon FDA approval of an opioid overdose product.
Each tranche will mature over 5 years and have an interest-only period of 30 months at an average rate of 8.75%