Novelion Therapeutics Subsidiary Enters into $20 Million Term Loan Agreement with Sarissa Capital and Broadfin Capital
NOVELION THERAPEUTICS INC COMMON SHARES (NVLN)
Last novelion therapeutics inc common shares earnings: 5/7 04:01 pm
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Source: GlobeNewswire
VANCOUVER, British Columbia, March 15, 2018 (GLOBE NEWSWIRE) -- Novelion Therapeutics Inc. (NASDAQ:NVLN), a biopharmaceutical company dedicated to developing new standards of care for individuals living with rare metabolic diseases, today announced that subsidiary Aegerion Pharmaceuticals, Inc. has entered into a new secured financing facility with affiliates of Sarissa Capital Management and Broadfin Capital (the “Lenders”) providing for a $20 million term loan to Aegerion, which has been fully drawn. Aegerion plans to use the capital to support the ongoing development of metreleptin in additional indications and for general corporate purposes. Michael Price, chief financial officer of Novelion said, “We are fortunate to have shareholders who provided this financing that believe in the upside of the company. The additional cash strengthens Aegerion’s balance sheet and liquidity and allows for the continued execution of key near-term business priorities, particularly the ongoing de
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