Deals this week: Valeant Pharmaceuticals International, Novan, Recursion Pharmaceuticals
Valeant Pharmaceuticals International plans to raise C$1bn ($801.37m) through the private placement of senior secured notes.
Due 2025, the notes carry a rate of 5.5%. The US-based pharmaceutical company plans to use the funds to repurchase the principal amount of outstanding notes.
US-based pharmaceutical company Novan plans to make a public offering of securities consisting of common stock, preferred stock, debt securities, warrants, and/or units from time to time to raise up to $150m.
The company plans to use the funds towards working capital and general corporate purposes.
Recursion Pharmaceuticals has secured $60m in a series B funding round led by Data Collective Venture Capital (DCVC).
The US-based pharmaceutical company plans to use the funds for expansion into new therapeutic areas.
Sato Pharmaceutical, Eisai and Seren Pharmaceuticals have signed an agreement to co-promote the new oral antifungal agent BFE1224 in Japan.
BFE1224 is currently under regulatory review and will be distributed by Sato Pharma, upon receiving approval.
All companies involved in the transaction are based in Japan.
US-based pharmaceutical company Zogenix has announced an underwritten public offering of six million shares of its common stock priced at $37.5 a share to raise $251.25m.
The company plans to use the funds towards the development of ZX008.
US-based generic pharmaceutical company Breckenridge Pharmaceutical has acquired five abbreviated new drug applications (ANDA) from pharmaceutical company Nostrum Laboratories.
The market value of the acquired products is estimated at $305m.