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

0

GOOD

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:5/25/2013)... 25, 2013 Imagine running the air conditioner ... loss, hot air and wasted energy! If the home has ... fireplace or clothes dryer, that may be just what is ... often overlooked holes waste energy in the form of higher ... cooling loss in the home. , Drafts occur through the ...
(Date:5/25/2013)... Dr. Leslie Gerstman announced today that Ultherapy ... the neck, on the brow and under the chin -- ... is a non-surgical procedure for the face and neck that ... skin over time. The use of FDA-cleared ultrasound technology enables ... the deepest support layers of the skin – typically addressed ...
(Date:5/25/2013)... Communities of Distinction TV announces May air ... media market in the United States with almost three million ... Texas and a major convention city. Ft. Worth is known ... is home to many major museums. Both cities offer a ... arts. Residents and locals will be able to watch the ...
(Date:5/25/2013)... Many viruses and parasites that affect both dogs and ... illness than can result in liver or kidney failure ... a veterinarian. These germs could be found ... Dr. Susan Nelson, a clinical associate professor at Kansas ... diseases can be fatal, even with treatment," she said ...
(Date:5/25/2013)... (PRWEB) May 25, 2013 Radius ... underground shelter company in the US and has ... structures for over 35 years. M.E. and President, ... Handbook of NBC Weapon Fundamentals and Shelter Engineering ... States’ bible on shelter engineering. McCarthy is considered ...
Breaking Medicine News(10 mins):Health News:How To Stop Drafts and Save On Home Energy Bills This Summer - New Draft Stoppers Now Available From Battic Door Energy Conservation 2Health News:How To Stop Drafts and Save On Home Energy Bills This Summer - New Draft Stoppers Now Available From Battic Door Energy Conservation 3Health News:How To Stop Drafts and Save On Home Energy Bills This Summer - New Draft Stoppers Now Available From Battic Door Energy Conservation 4Health News:Dr. Leslie Gerstman Is Now Offering the Non-surgical Facelifting Procedure – Ultherapy – in NYC and NJ 2Health News:Communities of Distinction TV Presents May Air Dates for Dallas-Ft. Worth, Texas 2Health News:Hidden Dangers Dog Dog Parks 2Health News:Radius Engineering International Inc. Offers Tools to Stay Safe and Recover From Any Disaster 2Health News:Radius Engineering International Inc. Offers Tools to Stay Safe and Recover From Any Disaster 3
... MADISON Most cancers are easier to treat if ... screening and prompt treatment. But for immigrants and other ... early detection even if it,s been translated into ... "Medical interventions fail if the intervention does not match ...
... Minn. -- Mayo Clinic investigators, with Belgian collaborators, have ... effectively heal, repair and regenerate damaged heart tissue. The ... -- appear in today,s Journal of the American ... from patients have normally a limited capacity to repair ...
... News) -- The massive BP oil spill in the Gulf ... fishermen and members of coastal communities, according to a group ... be aware of, and look for, evidence of toxicity from ... asked about occupation and location of residence, the physical examination ...
... associated with cancer progression when abundant inside of tumors ... that feed the tumor outside, a research team led ... Cancer Center reports in the August edition of ... to block production of the protein, the researchers inhibited ...
... of potential health risks posed by secondhand tobacco smoke, ... of using ozone to remove the smell of tobacco ... interiors of vehicles, is probably a bad idea. ... Berkeley National Laboratory (Berkeley Lab) shows that ozone can ...
... Gothenburg, Sweden, have for the first time identified 12 ... The discovery could result in more reliable prognoses and ... in the journal Clinical Cancer Research , are ... breast cancer patients. Half of these patients died within ...
Cached Medicine News:Health News:Building a bridge with cross-cultural cancer education 2Health News:Building a bridge with cross-cultural cancer education 3Health News:Mayo's 'smart' adult stem cells repair hearts 2Health News:Gulf Oil Spill Still a Health Threat to Many, Researchers Report 2Health News:Gulf Oil Spill Still a Health Threat to Many, Researchers Report 3Health News:Novel role: EZH2 boosts creation of ovarian cancer blood vessels 2Health News:Novel role: EZH2 boosts creation of ovarian cancer blood vessels 3Health News:Berkeley study shows ozone and nicotine a bad combination for asthma 2Health News:Berkeley study shows ozone and nicotine a bad combination for asthma 3Health News:Genes associated with aggressive breast cancer 2
(Date:5/24/2013)... England and BOSTON , May 24, ... discovery and development company, is pleased to announce that it has ... to augment the Company,s business development capabilities in Japan ... more than 15 years of experience in business development, licensing and ... Sciences, Inc., Roche Pharma ( Japan ), Nippon Roche ...
(Date:5/23/2013)... Calif. , May 23, 2013 Amgen (NASDAQ: ... 38 th Annual  Healthcare Conference on Thursday, May 30, ... , beginning at 9:20 a.m. Eastern Daylight Time. ... at Amgen, will present at the conference. Live audio of ... Amgen,s website, www.amgen.com , under Investors. A replay of ...
(Date:5/23/2013)... , May 23, 2013  A recently published ... Houston, Texas , demonstrates that 3D ... increasing cancer detection. The study, "Implementation ... Observational Study," was led by Stephen L. ... issue of the American Journal of Roentgenology ...
Breaking Medicine Technology:Heptares Augments Business Development Capabilities in Japan and Other Asian Territories 2First Large-Scale U.S. Study Validates the Benefits of 3D Mammography (Breast Tomosynthesis) Exams 2First Large-Scale U.S. Study Validates the Benefits of 3D Mammography (Breast Tomosynthesis) Exams 3
... Mylan Inc. (Nasdaq: MYL ) today ... Laboratories Limited) has received final approval from the U.S. ... Drug Application (ANDA) for Atorvastatin Calcium Tablets, 10 mg, ... is the generic version of Pfizer,s Lipitor® Tablets, which ...
... May 29, 2012 Ranbaxy Laboratories Inc. (RLI), a ... announced today that the U.S. Food and Drug Administration ... of the acne medication isotretinoin, for the treatment of ... the Canadian firm, Cipher Pharmaceuticals Inc., RLI is expected ...
Cached Medicine Technology:Mylan Launches Generic Version of Lipitor® 2Ranbaxy Announces U.S. FDA Approval of CIP-Isotretinoin NDA 2
... Conforming to U.S. and international engineering ... TC-100 Screw and Plating System* provides ... ease of use for open reduction ... the TC-100 system works well beyond ...
... The CARDIA PFO Occluder ... transvenous closure of Patent Foramen ... sheaths (10-12F) the device offers ... for the percutaneous closure of ...
Half pin skeletal traction pins with cove point....
Round Bevel-Point Pin Sets available in 2.3mm, 3.1mm, 4.7mm, and 6.3mm sizes....
Medicine Products: