Agile Closes $15 Million Facility With Oxford Finance
Agile Therapeutics and Oxford Finance announced that they closed a term loan facility for up to $15 million. Agile is developing a once-weekly contraceptive patch, AG200-15, designed to deliver a low daily dose of hormones, as well as a pipeline of other women’s health products.
Agile recently filed an NDA for AG200-15 and anticipates receiving a response from the FDA in 2013. The company will use the additional funding to advance its product pipeline and prepare for commercialization activities.
“We are pleased that we were able to secure this credit facility with Oxford Finance, a valuable partner in the healthcare field,” said Scott Coiante, Agile’s CFO. “These additional resources will complement funds raised via our existing investors and will be used to ensure our success in bringing AG200-15 to market and developing our other contraceptive products.”
AG200-15 is an investigational combination hormonal contraceptive patch, designed to deliver a low dose of ethinyl estradiol comparable to low-dose combination oral contraceptives.
Agile Therapeutics is a pharmaceutical development company specializing in women’s healthcare products, with an initial focus on providing women with more options and potentially more convenient methods of hormonal contraception.
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide.