Covington Represents OrbiMed in Structured Royalty Financing
October 01, 2024
October 01, 2024
WASHINGTON, Oct. 1 -- Covington, a law firm, issued the following news release:
NEW YORK--Covington advised OrbiMed in a non-dilutive royalty financing agreement with Poxel SA to monetize a portion of Poxel's future royalties and sales-based payments from TWYMEEG(R) sales by Sumitomo Pharma in Japan.
Under the terms of the agreement, Poxel received a gross upfront payment of $50 million from the OrbiMed funds in exchange for an issuance of its bonds in the same aggregat . . .
NEW YORK--Covington advised OrbiMed in a non-dilutive royalty financing agreement with Poxel SA to monetize a portion of Poxel's future royalties and sales-based payments from TWYMEEG(R) sales by Sumitomo Pharma in Japan.
Under the terms of the agreement, Poxel received a gross upfront payment of $50 million from the OrbiMed funds in exchange for an issuance of its bonds in the same aggregat . . .