Pharmakon Advisors Seeks to Invest an Additional $363 Million in Debt Securities Backed by Royalties on Biopharmaceutical Products and Medical Devices
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/17/11 -- Pharmakon Advisors, LP ("Pharmakon") announced that it is seeking to invest an additional $363 million in assets secured by cash flows generated from sales of life sciences products. This amount is in addition to the $263 million that Pharmakon has already invested since June 2009.
Pharmakon invests in debt securities and priority royalty tranches secured by royalty payments on biopharmaceutical products or medical devices. These royalty streams can come from existing license agreements or can be created by referencing sales of marketed products (synthetic royalties). Pharmakon is seeking investments of $10 million to $100 million.
Pedro Gonzalez de Cosio, co-founder and Managing Member, commented: "Our investment activity will help increase the availability of non-dilutive capital on a non-recourse basis to life sciences companies. This capital can be used to finance clinical development pipelines, clinical trials, product launches and/or product/company acquisitions."
Pharmakon's management team has a long and successful track record of structuring securitized financings and making direct investments in bio-pharmaceutical royalty interests. Pablo Legorreta, co-founder and Managing Member of Pharmakon, is also the founder and CEO of Royalty Pharma. Royalty Pharma is the industry leader in acquiring revenue-producing intellectual property, principally royalty interests in marketed and late stage biopharmaceutical products, with assets of over $7 billion. Pablo Legorreta commented: "Pharmakon's investment focus on debt secured by royalties, its three to five year target maturity and efficient structure, increases the availability and drives down the cost of much needed capital in the biotech industry."
Pharmakon Advisors, LP invests in debt securities and priority royalty tranches secured by royalty payments on biopharmaceutical products or medical devices. As of October 2011, Pharmakon has invested $263 million in debt securities and priority royalty tranches collateralized by royalty payments on life sciences products and is seeking to invest an additional $363 million.
For further information please contact:
Pharmakon Advisors, LP
110 East 59th Street, Suite 3300
New York, NY, 10022
Tel: 212 883 2263
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Datum: 17.10.2011 - 06:30 Uhr
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