Verona secures $400M financing arrangement with Oxford, Hercules as ensifentrine PDUFA date inches closer
02 Jan 2024
NDA
Verona Pharma has inked a debt financing deal worth up to $400 million with Oxford Finance and Hercules Capital as it prepares for the potential approval and launch of its lead respiratory drug candidate.
The UK biotech has withdrawn $50 million under the terms of the debt facility and will be able to draw a further $100 million if and when its chronic obstructive pulmonary disease (COPD) maintenance treatment — ensifentrine — wins US approval. The FDA accepted the NDA for the dual PDE3/PDE4 inhibitorPDE3/PDE4 inhibitor in the third quarter of 2023 with a target action date of June 26.
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Source: EndPoints
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