Thursday, October 26, 2017

Impact Biomedicines Raises $90M In Structured Financing

San Diego-based Impact Biomedicines has raised $90M in a structured financing from Oberland Capital, the company said today, to help it advance commercialization of its compound for the treatment of myelofibrosis (MF) and polycythemia vera (PV). According to Impact Biomedicines, the financing initially involves two milestone-based payments of $20 million each from Oberland Capital, with an additional $35 to $50M available once its lead compound, fedratinib, is approved by the U.S. Food and Drug Administration. Impact Biomedicines said that in exchange for the financing, Oberland Capital will receive predefined royalties on sales of fedratinib.