Verona se­cures $400M fi­nanc­ing arrange­ment with Ox­ford, Her­cules as en­sifen­trine PDU­FA date inch­es clos­er

Verona Phar­ma has inked a debt fi­nanc­ing deal worth up to $400 mil­lion with Ox­ford Fi­nance and Her­cules Cap­i­tal as it pre­pares for the po­ten­tial ap­proval and launch of its lead res­pi­ra­to­ry drug can­di­date.

The UK biotech has with­drawn $50 mil­lion un­der the terms of the debt fa­cil­i­ty and will be able to draw a fur­ther $100 mil­lion if and when its chron­ic ob­struc­tive pul­monary dis­ease (COPD) main­te­nance treat­ment — en­sifen­trine — wins US ap­proval. The FDA ac­cept­ed the NDA for the dual PDE3/PDE4 in­hibitor in the third quar­ter of 2023 with a tar­get ac­tion date of June 26.

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