January 17, 2018 / 12:50 PM / 9 months ago

BRIEF-Strongbridge Announces Acquisition Of U.S., Canadian Rights To Macrilen From Aeterna Zentaris

Jan 17 (Reuters) - Strongbridge Biopharma Plc:

* STRONGBRIDGE BIOPHARMA PLC ANNOUNCES ACQUISITION OF THE U.S. AND CANADIAN RIGHTS TO MACRILEN™ (MACIMORELIN) FROM AETERNA ZENTARIS

* STRONGBRIDGE BIOPHARMA - ‍UNDER TERMS OF AGREEMENT, CO TO MAKE UPFRONT PAYMENT OF $24 MILLION TO AETERNA WITHIN 5 DAYS OF EFFECTIVE DATE OF AGREEMENT​

* STRONGBRIDGE BIOPHARMA - LICENSE & ASSIGNMENT AGREEMENT ALSO PROVIDES CO WITH EXCLUSIVE LICENSE TO MANUFACTURE & COMMERCIALIZE MACRILEN IN U.S. & CANADA

* STRONGBRIDGE BIOPHARMA PLC - STRONGBRIDGE EXPECTS TO COMMERCIALLY LAUNCH MACRILEN IN MID-YEAR 2018

* STRONGBRIDGE BIOPHARMA PLC - ‍EXPANDS STRUCTURED FINANCING FACILITY WITH CRG TO SUPPORT ANTICIPATED COMMERCIAL LAUNCH OF MACRILEN IN MID-2018​

* STRONGBRIDGE BIOPHARMA - AETERNA ZENTARIS WILL REMAIN RESPONSIBLE FOR A PEDIATRIC DEVELOPMENT PROGRAM TO SUPPORT REGULATORY SUBMISSION FOR MACRILEN APPROVAL

* STRONGBRIDGE - ‍IN CONJUNCTION WITH MACRILEN DEAL, CO, CRG AMENDED EXISTING SENIOR CREDIT FACILITY TO INCREASE TOTAL POTENTIAL BORROWING TO $100 MILLION​

* STRONGBRIDGE BIOPHARMA-CO SHARING OVERSIGHT AND PAYING FOR 70 PERCENT OF COST OF PEDIATRIC DEVELOPMENT PROGRAM OR ABOUT $4 MILLION OVER A 3-YEAR PERIOD​

* STRONGBRIDGE - ‍UNDER AMENDED FACILITY, CO RETAINED OPTION TO BORROW ADDITIONAL $10 MILLION BASED UPON SOME CONDITIONS​

* STRONGBRIDGE - ‍INTENDS TO USE UPFRONT PROCEEDS FROM SECOND BORROWING TO FUND ACQUISITON, COMMERCIALIZATION OF MACRILEN, CORPORATE PURPOSES​

* STRONGBRIDGE BIOPHARMA - TERM OF LOAN UNDER CREDIT FACILITY REMAINS 6 YRS, ALTHOUGH INTEREST-ONLY PERIOD HAS BEEN EXTENDED BY 6 MONTHS TO DEC 31, 2020

* STRONGBRIDGE BIOPHARMA- ‍AS CONDITION TO SECOND BORROWING, ISSUED WARRANTS WITH 7-YEAR TERM TO CRG TO BUY 1.2 MILLION SHARES AT EXERCISE PRICE OF $10.00PER SHARE Source text for Eikon: Further company coverage:

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