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Oxford Finance Provides $125MM Credit Facility to Kala Pharmaceuticals

May 13, 2021, 07:43 AM
Filed Under: Pharmaceuticals

Oxford Finance closed a $125 million senior secured term loan with Kala Pharmaceuticals, Inc., a biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies for diseases of the eye.

Proceeds from the transaction will be used to refinance existing indebtedness and provide additional growth capital for the Company’s marketing of its two approved ophthalmic products.

Kala is marketing two approved ophthalmology products, EYSUVIS® for the short-term (up to two weeks) treatment of the signs and symptoms of dry eye disease (“DED”), and INVELTYS® for the treatment of post-operative inflammation and pain following ocular surgery. The Company developed both products utilizing its proprietary AMPPLIFY® technology platform that creates mucus penetrating particles to enhance the delivery profile of loteprednol etabonate, the active pharmaceutical ingredient in each product.

“Kala’s commercial product, EYSUVIS, is the only FDA-approved product to treat the acute flare-ups associated with dry eye disease,” said Christopher A. Herr, senior managing director at Oxford. “Approximately 80 percent of people living with dry eye disease suffer from these episodic flares. Oxford is proud to support a company that has developed a novel method to address significant unmet medical needs.”

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