Meitheal Pharmaceuticals, a fully integrated generic injectables company based in Chicago, entered into a $35 million senior secured revolving credit agreement with J.P. Morgan. Subject to customary conditions, Meitheal may, at its option, request an increase in the credit facility for a total amount of up to $80 million.
“We are pleased to have closed this financing with J.P. Morgan which strengthens our balance sheet and provides us with the working capital and flexibility needed to invest in strategic areas for growth,” Tom Shea, CEO of Meitheal, said. “This transaction underscores Meitheal’s demonstrated commitment to fiscal responsibility, and we look forward to leveraging these funds to bring important, accessible medicines to patients in need.”
The three-year credit facility matures on Aug. 9, 2026 and is secured by assets of Meitheal. Meitheal intends to use the funds for general corporate purposes.
