Daily News: November 14, 2013

Athyrium Capital Provides $20MM Facility to InnoPharma


InnoPharma announced that it closed on a $20 million term loan facility, provided by Athyrium Capital Management through the Athyrium Opportunities Fund. Proceeds will support the company’s ongoing development of complex generic and innovative specialty pharmaceutical products in injectable and ophthalmic dosage forms. Armentum Partners acted as financial advisors to InnoPharma for this transaction.

Navneet Puri, PhD, president & CEO of InnoPharma, commented, “This new financing will enhance InnoPharma’s ability to continue to grow and expand our product portfolio by providing greater financial flexibility. Athyrium’s understanding of our business and focus on long-term results makes them an excellent strategic fit for InnoPharma.”

“We are thrilled to help fuel InnoPharma’s ongoing growth with long-term, minimally dilutive capital,” said Laurent Hermouet, a partner at Athyrium Capital. “A strong track record of value creation and a rapidly maturing product portfolio made partnering with InnoPharma a compelling proposition.”

InnoPharma is a sterile product development company focused on developing generic and specialty pharmaceutical products in injectable and ophthalmic dosage forms.