First Generation, MidCap finance Trimel's buy of menopause drug rights
Trimel Pharmaceuticals Corp (TSX:TRL) has bought the Canadian rights for Estrace(R), a treatment for menopausal symptoms, from Shire Plc for $44.5 million. To finance the deal, Trimel has obtained a senior secured term credit facility with U.S.-based MidCap Financial LLC for up to US$25.0 million. Additionally, the company has obtained a convertible subordinated unsecured term note of US$25.0 million from First Generation Capital, a Canadian investment holding firm. Based in Mississauga, Ontario, Trimel develops medications for male hypogonadism, female sexual dysfunction and various respiratory disorders.
21 July 2014•4 mins read
