Halozyme Therapeutics (HALO) seems to have closed the previously announced $150 million royalty-backed debt transaction with investment funds managed by Pharmakon Advisors and Athyrium Capital Management. The debt is said to be secured by future royalties of ENHANZE™ products, received from Halozyme's collaborations Roche and Baxalta only.
Halo declared delight with the conclusion of this deal as it is a non-dilutive financing and because it finds itself well funded to initiate Phase 3 study in pancreatic cancer, in addition to executing its two pillar strategy in 2016.
Other details that were announced with the announcement . . .