Ap­proval in sight, Per­cep­tive, Or­biMed dou­ble down on Foamix's an­tibi­ot­ic foam to the tune of $64M

In an­tic­i­pa­tion of a long-await­ed — and some­what de­layed — date with the FDA on its top­i­cal der­ma­tol­ogy drugs, Foamix has re­turned to its biggest share­hold­ers to stack up re­sources for the com­mer­cial stretch ahead.

The $64 mil­lion fi­nanc­ing in­vest­ment from Per­cep­tive Ad­vi­sors and Or­biMed break down to two main parts. A cred­it agree­ment cov­ers up to $50 mil­lion in term loans, $15 mil­lion of which would be pro­vid­ed at clos­ing; the oth­er $20 mil­lion and $15 mil­lion are con­tin­gent on reg­u­la­to­ry and rev­enue mile­stones, re­spec­tive­ly. Per­cep­tive has al­so signed up to pur­chase $14 mil­lion worth of Foamix’s shares, which is list­ed on the Nas­daq cur­rent­ly at $2.14 a pop.

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