Daily News: October 3, 2018

Athyrium Provides $110MM Facility to Kala Pharmaceuticals


Kala Pharmaceuticals closed a $110 million credit facility with funds managed by Athyrium Capital Management, a healthcare focused investment firm.

Morgan Stanley acted as sole structuring agent on the transaction.

“We are pleased to be partnering with Athyrium and to have their support and confidence in INVELTYS for the treatment of inflammation and pain following ocular surgery and KPI-121 0.25% for dry eye disease,” said Mark Iwicki, chairman, president and chief executive officer of Kala Pharmaceuticals. “We expect this financing to support Kala’s efforts to achieve significant milestones, including the NDA filing for KPI-121 0.25% for dry eye disease by the end of 2018, the launch of INVELTYS in early 2019, and topline results for the STRIDE-3 trial of KPI-121 0.25% expected in Q4/19.”

Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $3.7 billion in committed capital.

Kala Pharmaceuticals focuses on the treatment of eye diseases.