Encina Business Credit provided a $25 million senior secured credit facility to a pharmaceutical company.
The company is focused on developing, manufacturing, and commercializing its three patented products, which aim to treat ADHD. This facility consists of a revolving line of credit based on accounts receivable. The loan proceeds will be used to provide financing for growth, R&D and working capital.
“The company was looking for a lender willing to finance a cash burn situation and to provide availability against both inventory and concentrated receivables under extended terms. EBC stepped up and developed a flexible structure that was unmatched by traditional banks and non-bank lenders,” said Dave Braff, managing director at Encina.
