Navigation Links
InnoPharma Inc. Raises $8 Million in Venture Debt
Date:6/7/2012

PISCATAWAY, N.J., June 7, 2012 /PRNewswire/ -- InnoPharma, Inc. today announced that it has closed on an $8 million growth capital financing from Comerica Bank and NXT Capital Venture Finance. Proceeds will provide additional working capital and will support the Company's ongoing development of niche generic and innovative specialty pharmaceutical products in injectable and ophthalmic dosage forms. Armentum Partners acted as strategic advisors to InnoPharma for this transaction.

Navneet Puri, Ph.D., president & CEO of InnoPharma, commented, "This loan facility provides InnoPharma with the financial flexibility to support the Company's continued growth and accelerate advancement of key products in our development program. We remain focused and committed to delivering on our goal of providing patients and prescribers access to cost effective, safe and easy-to-use products that are, where possible, improved over currently available presentations."

"InnoPharma has a robust pipeline of unique specialty pharmaceutical products and the team has made great strides tackling many of the formulation challenges currently facing drug developers," said Jeff Chapman, senior vice president at Comerica. Peter Fair, managing director of NXT Capital Venture Finance added, "InnoPharma's management team has a unique blend of top-notch drug development experience coupled with strong business acumen. We are extremely pleased to provide a flexible financing solution to a company with such demonstrated talent for producing complicated drugs that service significant market needs."

About Comerica Bank

Comerica Bank, with 217 banking centers in Michigan, is a subsidiary of Comerica Incorporated. Comerica made a $17 million investment in Detroit with the renovation of its building at 411 W. Lafayette, which has been renamed Comerica Bank Center and is now the bank's Michigan Market headquarters. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. For more information, visit www.comerica.com.

About NXT Capital                                    

NXT Capital Venture Finance is a division of NXT Capital that serves entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, NXT Capital Venture Finance provides senior and subordinated term loans in the $1 million to $20 million range to emerging growth companies backed by venture capital and private equity firms, particularly those in the technology and life science sectors. Target clients range from pre-revenue companies led by dedicated entrepreneurs to late-stage, proven businesses seeking more efficient growth capital. For more information, see www.nxtcapital.com/venture-finance.

About InnoPharma, Inc.

InnoPharma is a sterile product development company, focused on developing niche generic and innovative specialty pharmaceutical products in injectable and ophthalmic dosage forms. The Company has a broad portfolio of products under development, with formulations including solutions, suspension, lyophilized, emulsions, liposomes, micelles and lipid complexes. InnoPharma's pipeline includes small molecules with solubility and stability challenges, as well as difficult to produce and characterize polypeptides and carbohydrates. The Company has a comprehensive infrastructure for the development of its products in its state of the art R&D facilities in New Jersey, with the capability to handle potent and cytotoxic molecules. More information can be found at www.innopharmainc.com.


'/>"/>
SOURCE InnoPharma, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Evergreen Healthcare Foundation Gala Raises Nearly $1.1 Million to Benefit Breast Health Center
2. Xtelligent Media Raises $800K in Funding and Launches EHRintelligence.com
3. National Patient Advocate Foundation Praises Signing of the Delaware Cancer Treatment Access Act into Law
4. BHI Raises Awareness of Hearing Aids as Potential Therapy to Help Quiet "Ringing in the Ears" During National Tinnitus Awareness Week
5. Perrigo Reports Record Third Quarter Revenue And Earnings And Raises Full Year EPS Guidance
6. Auxilium Pharmaceuticals, Inc. Raises Revenue Guidance And Reduces Net Loss Guidance For 2012
7. Halo Therapeutics Raises $1.1 Million to Expedite Phase 2 Study of HT-100
8. AssureRx Health Raises $12.5 Million Series C Financing
9. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
10. Delcath Systems, Inc. Secures $20 Million Credit Facility
11. CareFusion to Sell Neurodiagnostic Business to Natus Medical for $58 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/19/2017)... , April 19, 2017  IRIDEX Corporation (Nasdaq: ... financial results for the first quarter 2017 after the ... Company,s management team will host a corresponding conference call ... Investors interested in listening to the conference ... domestic callers or (703) 326-3030 for international callers, using ...
(Date:4/19/2017)... April 19, 2017  Sorrento Therapeutics, Inc. (NASDAQ: ... biopharmaceutical company developing new treatments for cancer and ... of its previously announced underwritten public offering of ... public offering price of $2.00 per share, before ... expenses payable by Sorrento.  The net proceeds to ...
(Date:4/18/2017)... , April 18, 2017  Cardinal Health (NYSE: ... 1 fiscal 2017 earnings per share (EPS) guidance ... 2019.  This is in conjunction with this morning,s announcement ... Vein Thrombosis and Nutritional Insufficiency businesses. Cardinal ... continuing operations will be at the bottom of its ...
Breaking Medicine Technology:
(Date:4/22/2017)... Plains, NY (PRWEB) , ... April 22, 2017 ... ... Report, which shows that U.S. consumers can save an average of 70% when ... greater savings (up to 97%) are available when purchasing from other countries. The ...
(Date:4/22/2017)... ... ... San Juan Capistrano summer camp team at the Boys and Girls Club of South ... provide physical activities for all campers. To read the report, click here or ... in specialty camps that focus on what the report terms as “sitting subjects” like coding ...
(Date:4/21/2017)... ... , ... Providing broad access to life-saving drugs and rewarding the innovators who ... to address this problem. , That was the message from Dana Goldman, PhD, Leonard ... University of Southern California, who served as the keynote speaker for Western University of ...
(Date:4/21/2017)... ... 2017 , ... Contrary to popular perception, a new study ... noteworthy rates. Between 2002 and 2014, Salas-Wright and his colleagues found a 29% ... United States. The study, Trends in Fighting and Violence Among Adolescents in ...
(Date:4/21/2017)... ... April 21, 2017 , ... Evoke Therapy Programs , ... kicked off its 4th annual Forum for Innovative Treatment Solutions (FITS), which runs ... Therapy for Mental Health and Addiction.” , FITS’ 2017 keynote presenters will ...
Breaking Medicine News(10 mins):