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Agile Therapeutics Closes $15MM Term Loan With Oxford Finance

January 04, 2013, 07:46 AM

Agile Therapeutics and Oxford Finance closed a term loan facility for up to $15 million. The company will use the additional funding to advance its product pipeline and prepare for commercialization activities. Agile is developing a once-weekly contraceptive patch, AG200-15, designed to deliver a low daily dose of hormones, as well as a pipeline of other women's health products. Agile recently filed an NDA for AG200-15 and anticipates receiving a response from the FDA in 2013.

"We are pleased that we were able to secure this credit facility with Oxford Finance, a valuable partner in the healthcare field," said Scott Coiante, Agile's chief financial officer. "These additional resources will complement funds raised via our existing investors and will be used to ensure our success in bringing AG200-15 to market and developing our other contraceptive products."

"Agile Therapeutics' seasoned management team is dedicated to developing and improving women's health products," said Christopher A. Herr, Managing Director for Oxford Finance. "Its lead product, the AG200-15 patch, promises to be a good alternative to existing contraceptive products, and Oxford is very pleased to be able to provide capital to support its commercialization."

Agile Therapeutics is a pharmaceutical development company specializing in women's healthcare products, with an initial focus on providing women with more options and potentially more convenient methods of hormonal contraception.

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide.

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