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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
NovaQuest Capital Management Provides $70MM Non-Dilutive Financing to Hansa Biopharma
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Lenders/Participants
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NovaQuest Capital Management [Lender]
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Structure
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Non-Dilutive Financing
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Amount
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$70.000
Million
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Borrower(s)
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Hansa Biopharma AB
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Description
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Under the terms of the agreement, NovaQuest will provide Hansa with $70 million within 15 business days from the execution of the agreement. In return, Hansa will make quarterly mid single-digit royalty payments to NovaQuest on future worldwide annual net sales of imlifidase, commencing upon approval by the FDA of imlifidase in kidney transplantation or anti-GBM. In addition, Hansa will make certain milestone payments to NovaQuest upon FDA approval of imlifidase in kidney transplantation or anti-GBM. Total payments by Hansa to NovaQuest are capped.at $140 million. The agreement also provides for time-based catch-up payments within the payment cap if specified payment amounts have not been received by NovaQuest by specified dates, with the last potential catch-up payment due on December 31, 2028. In addition, the transaction includes customary diligence, governance, and information obligations as well as non-financial covenants. Hansa and NovaQuest have also entered into a security agreement to provide NovaQuest a customary security interest in and lien upon right, title and interest in certain of Hansa's assets and IP.
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Industry
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Biotechnology
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| Related Tags |
NovaQuest Capital Management
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ABL Advisor
Deal Tables
2024
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