Cipher pays down Athyrium debt with new $20 mln facility
Canadian specialty pharmaceutical company Cipher Pharmaceuticals Inc (TSX: CPH) has entered into a US$20 million senior secured term credit facility with Canadian Imperial Bank of Commerce. The proceeds will be used to repay the remaining balance on senior secured notes provided by Athyrium Capital Management, a U.S. healthcare investment firm. Athyrium in 2015 supplied Cipher with US$100 million in notes, used in part for the company's acquisition of Innocutis Holdings. Based in Mississauga, Ontario, Cipher is focused on the dermatology products market.
3 November 2017•2 mins read
