Acura Pharmaceuticals, Inc. Completes Draw Down Of November, 2006 Bridge Funding Commitment

PALATINE, Ill., Feb. 20, 2007 (PRIME NEWSWIRE) -- Acura Pharmaceuticals, Inc. (OTC BB:ACUR.OB - News) today announced it has completed the draw down of the $2.0 million November, 2006 bridge funding commitment from Essex Woodlands Health Ventures V, L.P., Care Capital Investments II, L.P., Care Capital Offshore Investments II, L.P., Galen Partners III, L.P., Galen Partners International III, L.P. and Galen Employee Fund III, L.P. (the ``November Bridge Loan Commitment''). In November and December, 2006 and January, 2007, the Company had drawn a total of $1,404,000 against the November Bridge Loan Commitment. On February 20, 2007 the remainder of $596,000 under the November Bridge Loan Commitment was received by the Company. Advances under the November Bridge Loan Commitment bear interest at the rate of 10% per annum, are secured by a lien on all assets of the Company and its subsidiary, mature on March 31, 2007 and are senior to all other Company debt. Including the $596,000 secured today, the Company has a total of $8.7 million in bridge loans outstanding and due on March 31, 2007.
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