Acorda Therapeutics entered into a $60 million credit agreement. According to an 8-K filing, JPMorgan Chase is the administrative agent, collateral agent, lender, agent, sole lead arranger and sole bookrunner.

JPMorgan has performed, and may in the future perform, banking, financial advisory and investment banking services for Acorda and its affiliates.

The credit agreement provides the company with a three-year senior secured revolving credit facility in the maximum amount of $60 million. Availability under the facility is subject to a borrowing base, which is based on eligible accounts receivable, inventory and equipment of the company and certain of its U.S. subsidiaries, after adjusting for customary factors that are subject to modification from time to time by the administrative agent at its discretion. Based on the company’s eligible accounts receivable and inventory and other components of the borrowing base at the closing, the initial availability under the facility is approximately $58 million.

Acorda Therapeutics is a biotechnology company focused on developing therapies that restore function and improve the lives of people with neurological disorders.