Neos Therapeutics, a pharmaceutical company focused on developing and commercializing extended-release products for the treatment of attention-deficit/hyperactivity disorder (ADHD), closed a $60 million term loan from Deerfield Management.

The company intends to use the net proceeds from the debt financing, after repaying existing venture debt, to execute the launch of Adzenys XR-ODT and to launch the company’s additional two ADHD products in 2017, if approved.

Payments on the loan are interest-only for the first 36 months, and the principal is to be repaid in four equal annual installments of $15 million commencing in May 2019 and continuing through May 2022. There are no warrants or any other equity to be issued as part of this financing.

“We are thrilled to announce the commercial launch of Adzenys XR-ODT and the closing of the debt financing this morning,” said Vipin K. Garg, Ph.D., president and CEO of Neos Therapeutics. “Deerfield is a distinguished investment partner in healthcare, and we are pleased to have their support. This debt financing further strengthens our cash position and we believe it provides us with the financial resources to bring our entire suite of ADHD product candidates to the market.”