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Fundraisings and IPOs

Date: 2018-12-21

Type of information: Loan

Company: Nabriva Therapeutics (Ireland)

Investors: Hercules Capital (USA - CA)

Amount: $75 million

Funding type: loan

Planned used:

  • This financing will be used to support the potential launches of both lefamulin and Contepo® in the second half of 2019.

Others:

  • • On December 21, 2018, Nabriva Therapeutics announced the closing of up to a $75 million term loan with Hercules Capital,  $25 million of which was funded on the day of closing. Under the terms of the loan and subject to customary funding conditions, in addition to the $25 million received at closing, Nabriva Therapeutics is eligible to receive up to an aggregate of $15 million in two tranches upon the approval by the FDA of new drug applications for lefamulin and Contepo®. The company will also be eligible to receive an additional $30 million of aggregate term loan advances in three separate tranches upon the achievement of specified product revenue milestones. These additional tranches are at the company’s discretion. The final $5 million tranche is available through December 31, 2021, subject to Hercules’ sole discretion. The company is entitled to make interest-only payments for 18 months from the loan closing, with extensions up to 36 months upon the achievement of specified performance milestones. The company will be required to repay the term loan after the interest only period based on a monthly amortization schedule, with a final maturity date occurring on June 20, 2023.
  • Armentum Partners acted as financial advisor to Nabriva Therapeutics for the debt financing. Additional details regarding the financing are included in the Nabriva Therapeutics’ Current Report on Form 8-K which is expected to be filed on December 21, 2018 with the Securities and Exchange Commission.

Therapeutic area: Infectious diseases

Is general: Yes