Eyeing a drug launch in early ’20, Esperion lines up a new, $200M funding deal
Esperion CEO Tim Mayleben has fattened the biotech’s cash reserves with an extra $200 million as he lays the foundation for the projected commercial launch of bempedoic acid next year.
Oberland Capital stepped up with the loan, handing over $125 million now, promising $25 million more once the FDA OKs the cholesterol-lowering drug and leaving $50 million available as needed.
The fresh injection of funds comes 6 months after Daiichi Sankyo agreed to pay $300 million in an upfront and near-term milestones to secure European rights to the drug. And now, says the CEO $ESPR, the new package “more than obviates the need for any future funding.”
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