Key Takeaways
- • Akin advised Pharmakon Advisors, LP and the BioPharma Credit funds on a $150 million senior secured loan facility extended to CorMedix Inc.
- • The loan is designed to help finance CorMedix's planned acquisition of Heron Therapeutics, Inc.'s commercial assets.
- • The acquired assets add four marketed hospital- and clinic-administered drugs to CorMedix's hospital- and acute-care commercial platform.
- • Akin's deal team was led by tax partner Geoffrey Secol, with health care and life sciences partner Nate Brown among the lead contributors.
Summary
Akin, the international law firm with more than 1,100 lawyers across the United States, Europe, Asia and the Middle East, advised Pharmakon Advisors, LP and the BioPharma Credit funds in connection with a $150 million senior secured loan facility for CorMedix Inc. Pharmakon is described in the firm's announcement as a leading investor in non-dilutive debt for the life sciences industry.
CorMedix is a U.S. biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. According to the announcement, the facility will help finance CorMedix's planned acquisition of the commercial assets of Heron Therapeutics, Inc. The acquisition adds four marketed hospital- and clinic-administered drugs to CorMedix's commercial platform, which is focused on hospital and acute-care settings.
The Akin team was led by tax partner Geoffrey Secol and included fellow tax partners Stuart Leblang and David Snyder, and associates Joshua Elkouby and John Kwack. Health care and life sciences partner Nate Brown led the health care contingent alongside senior counsel Jo-Ellyn Klein and associates Jenna Becker and Maddy Bolger. International trade partner Nnedinma Ifudu Nweke and corporate senior counsel Michael Miller, with associates Jake Gawlak, Casey Braden and Yossi Abadi, rounded out the team.
The primary source is a law firm announcement and does not disclose pricing, interest rate, maturity or other loan terms.
CorMedix is a U.S. biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. According to the announcement, the facility will help finance CorMedix's planned acquisition of the commercial assets of Heron Therapeutics, Inc. The acquisition adds four marketed hospital- and clinic-administered drugs to CorMedix's commercial platform, which is focused on hospital and acute-care settings.
The Akin team was led by tax partner Geoffrey Secol and included fellow tax partners Stuart Leblang and David Snyder, and associates Joshua Elkouby and John Kwack. Health care and life sciences partner Nate Brown led the health care contingent alongside senior counsel Jo-Ellyn Klein and associates Jenna Becker and Maddy Bolger. International trade partner Nnedinma Ifudu Nweke and corporate senior counsel Michael Miller, with associates Jake Gawlak, Casey Braden and Yossi Abadi, rounded out the team.
The primary source is a law firm announcement and does not disclose pricing, interest rate, maturity or other loan terms.
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