Navigation Links
Arena Pharmaceuticals to Receive $100 Million from Deerfield Management
Date:6/17/2009

SAN DIEGO, June 17, 2009 /PRNewswire-FirstCall/ -- Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) announced today that it has entered into an agreement with Deerfield Management, a leading healthcare investment organization and significant Arena stockholder, to provide Arena with $100 million in funding through a credit facility.

"We are pleased that Deerfield, a leader in healthcare investing, sees the potential of our business and that we have the opportunity to expand our relationship through this funding commitment," stated Jack Lief, Arena's President and Chief Executive Officer. "This funding will put us in a stronger financial position as we complete the lorcaserin Phase 3 pivotal program and prepare its NDA submission while advancing our various partnering discussions for lorcaserin and our earlier-stage drug candidates."

Under the terms of the credit facility, Deerfield will provide Arena with $100 million within fifteen business days of signing. The closing is subject to customary closing conditions. Arena has agreed to pay Deerfield a transaction fee of 2.25% at the time of funding. The outstanding principal accrues interest until maturity in June 2013 at a rate of 7.75% per annum, payable quarterly, unless repaid earlier. The principal is required to be repaid as follows: 10% at the end of the first year, 20% at the end of the second year, 30% at the end of the third year and the remainder at the end of the fourth year. At any time Arena may, at its option, redeem any or all of the notes at par and apply such redemption amount against this repayment schedule.

At the closing of the $100 million funding, Arena will issue Deerfield warrants for 28 million shares of its common stock with an exercise price of $5.42 per share.

During the next two years, Deerfield may elect to provide Are
'/>"/>

SOURCE Arena Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine news :

1. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
2. Arena Pharmaceuticals Announces Public Offering of Common Stock
3. Arena Pharmaceuticals to Present at the BIOCOM Investor Conference
4. Arena Pharmaceuticals Announces Pricing of Public Offering of Common Stock
5. Arena Pharmaceuticals to Present at the Merrill Lynch Global Pharmaceutical, Biotechnology and Medical Device Conference
6. Arena Pharmaceuticals Lorcaserin for Obesity Passes Major Safety Milestone
7. Arena Pharmaceuticals to Present at the Morgan Stanley Global Healthcare Unplugged Conference
8. Arena Pharmaceuticals to Report First Quarter 2008 Financial Results and to Host Conference Call and Webcast on Wednesday, May 7, 2008
9. Field Poll: California Nurses Association Most Favorably Viewed Group in Healthcare Arena
10. Childrens Miracle Network and Arena Football League Partner for First Nationwide Celebration Event
11. Arena Pharmaceuticals Announces Third Quarter 2008 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/4/2015)... March 04, 2015 Alliance Healthcare Foundation ... wellness for those in need in San Diego and ... organizations through its Mission Support Grants program with awards ... organizations applied for AHF’s Mission Support Grants program. Grant ... board of trustees and program committee, as well as ...
(Date:3/4/2015)... State officials have awarded $82,500 to ... Public Health at Georgia State University, to support the ... Georgia’s Division of Family and Children Services (DFCS) as ... Center. , The 1-800-CHILDREN Helpline is a top ... referral services that promote the wellbeing of children while ...
(Date:3/4/2015)... Estates, CA (PRWEB) March 04, 2015 ... clever dialogue and lyrical music, will be performed by ... Rolling Hills Estates, CA, this March 6-22, 2015, on ... Arts Center at Peninsula High School (27118 Silver ... available one hour before the program or may be ...
(Date:3/4/2015)... March 04, 2015 The report ... client survey, marketing channels, industry development trend and ... the industry, including spices definitions, applications and industry ... market analysis are provided with a focus on ... market. A comparison between the international and Chinese ...
(Date:3/4/2015)... Information Innovators Inc . (Triple-i) is ... joined the company as Chief Technology Officer. Mr. Dvorak ... the company, including customer-centric strategies and initiatives, and promoting ... experience as a technology executive and visionary. Prior to ... FBI including oversight of enterprise data management, analytic software ...
Breaking Medicine News(10 mins):Health News:Alliance Healthcare Foundation Awards $1 million through Mission Support Grants Program 2Health News:Alliance Healthcare Foundation Awards $1 million through Mission Support Grants Program 3Health News:State Funds Child Abuse Helpline Housed At Georgia State 2Health News:The New Mel Brooks Musical Young Frankenstein Performance March 6-March 22, 2015, by the Award Winning Drama Department at Peninsula High School, Rolling Hills 2Health News:World Spices Market Overview & Development 2015-2020 Now Available at DeepResearchReports.com 2Health News:World Spices Market Overview & Development 2015-2020 Now Available at DeepResearchReports.com 3Health News:Information Innovators Inc. Announces Mr. John Dvorak as the New Chief Technology Officer 2Health News:Information Innovators Inc. Announces Mr. John Dvorak as the New Chief Technology Officer 3
... active antiretroviral treatment (HAART) needs to be careful// ... Belgium. ,Highly active antiretroviral treatment can dramatically ... expectancy. This is especially helpful for patients with ... to have a full commitment to the antiviral ...
... neck cancer who are undergoing radiation// therapy can now ... ,Oropharyngeal candidiasis is a fungal infection in the ... also called thrush. The symptoms of the disease are ... when removed leaves a bleeding surface. This is a ...
... often had complained of a sudden increase in weight, especially ... this sudden influx of weight often results in obesity that ... rise in type 2 diabetes cases, cardiovascular diseases and other ... may be due to a drop in the estrogen levels ...
... had affected a total of 423 cases in Angola,// which ... the form of a vaccine. ,A virus causes Marburg ... Ebola hemorrhagic fever. The disease is a rare condition but ... symptoms begin with severe headaches and feeling of severe unwell. ...
... intake of vitamin B may be at less risk from ... of alcohol along with vitamin B may have even reduced ... happens when there is growth of abnormal or malignant cells ... was done by Swedish and American researchers, said that inadequate ...
... an injury to the knee. This may lead to inflammations ... identified a way to find out how much loss of ... in order to find out whether the injury may be ... considered to be a risk factor for arthritis, it was ...
Cached Medicine News:
(Date:3/4/2015)... FRANKFURT , Deutschland, 4. März 2015 ... führender Anbieter von medizinischen Bildmanagementlösungen für Unternehmen, ... Ernennung von Randolph Sternberg zum Director of ... Director of Operations weiter aus. ... Randolph Sternberg ist für den ...
(Date:3/4/2015)... , March 4, 2015  ECR Booth #317/Expo C ... is showcasing a full spectrum of X-ray imaging solutions ... reduce costs, and enable greater patient throughput for manufacturers ... systems.  These solutions are on display at the Annual ... Vienna, Austria this week.   ...
(Date:3/4/2015)... -- Oramed Pharmaceuticals Inc. (NASDAQ: ... focused on the development of oral drug delivery systems, ... upcoming 27 th Annual ROTH Conference, taking place ...  Dr. Michael Berelowitz , Chairman of ... corporate overview on March 10, 2015.   ...
Breaking Medicine Technology:TeraRecon baut seine Präsenz in EMEA aus 2TeraRecon baut seine Präsenz in EMEA aus 3Varian Medical Systems to Showcase New X-Ray Imaging Components at the European Congress of Radiology (ECR) Annual Meeting 2Varian Medical Systems to Showcase New X-Ray Imaging Components at the European Congress of Radiology (ECR) Annual Meeting 3Oramed to Present at the ROTH Conference 2Oramed to Present at the ROTH Conference 3
... 2012 Ranbaxy Laboratories Inc. (RLI), a wholly owned ... that the U.S. Food and Drug Administration (FDA) has ... acne medication isotretinoin, for the treatment of severe recalcitrant ... firm, Cipher Pharmaceuticals Inc., RLI is expected to launch ...
... Oramed Pharmaceuticals Inc. (OTCBB: ORMP.OB) ( http://www.oramed.com ), a ... it has received approval for a key patent by ... and Compositions for Oral Administration of Exenatide," covers oral ... now consists of three issued patents and 34 patents ...
Cached Medicine Technology:Ranbaxy Announces U.S. FDA Approval of CIP-Isotretinoin NDA 2Oramed Pharmaceuticals Granted Core Technology Patent in New Zealand 2Oramed Pharmaceuticals Granted Core Technology Patent in New Zealand 3
... CELL-DYN are assayed linearity control kits that ... verify patient reportable range of three- and ... the linear performance of the analyzer. CVA ... ranges appropriate for each instrument model and ...
The technology in the LATITUDE system allows your doctor to get the same data from your device whether you are at home or in your doctor's office. This information transfer happens automatically....
... Proprietary EX.P.R.T. Release Technology essentially ... stent shortening,, Unique anatomically designed tapered ... carotid bifurcation,, 0.014 Rapid Exchange catheter ... and flexible atraumatic tip,, Radiopaque marker ...
... Para 5X is a whole blood hematology ... 60C+, 80 and 120, and the Coulter ... offers a unique white cell differential, positioning ... algorithms on the systems. The product offers ...
Medicine Products: