MTS Securities Advises Iroko Pharmaceuticals on $75MM Facility
Iroko Pharmaceuticals announced that the company has entered into a $75 million debt facility agreement with an affiliate of OrbiMed Advisors to support general business operations and the launch of ZORVOLEX™. ZORVOLEX was approved by the U.S. FDA on October 18, 2013.
MTS Securities, an affiliate of MTS Health Partners, acted as the exclusive financial advisor to Iroko in the transaction.
“The recent FDA approval of ZORVOLEX marks an exciting time for Iroko, and through this agreement with OrbiMed, we will have the additional resources necessary to commercialize the first lower dose NSAID from our portfolio in the first quarter of 2014,” said Osagie Imasogie, executive chairman of the Board, Iroko Pharmaceuticals.
Philadelphia-based Iroko is a global specialty pharmaceutical company dedicated to advancing the science of analgesia. ZORVOLEX is the first and only FDA-approved NSAID developed using proprietary SoluMatrix Fine Particle Technology™.
OrbiMed is an investment firm dedicated exclusively to the healthcare sector, with over $8 billion in assets under management.