Impact Biomedicines, a San Diego, CA-based developer of treatments for patients with complex cancers, closed a $90m structured financing.
Oberland Capital provided the financing, which involves two milestone-based payments of $20m. In exchange for the payments, Oberland will receive predefined fedratinib royalties. If fedratinib is approved by the U.S. Food and Drug Administration (FDA), Impact will be able to draw down an additional $35 to $50m in predefined notes from Oberland to support the launch and commercialization of fedratinib.
The company intends to use the funds to advance the development, global supply chain build out, and future commercialization of fedratinib.
Led by John Hood, Ph.D., Chief Executive Officer, Charlie McDermott, President and Chief Business Officer, and Catriona Jamieson, M.D., Ph.D., Interim Chief Medical Officer, Impact Biomedicines is advancing fedratinib, a potent and highly selective oral small molecule JAK2 kinase inhibitor that is being developed initially for the treatment of myelofibrosis (MF) and polycythemia vera (PV).
The funding followed study of fedratinib in patients with myelofibrosis who were resistant or intolerant of ruxolitinib (published in The Lancet Haematology).
FinSMEs
26/10/2017