PALATINE, Ill., April 2, 2007 (PRIME NEWSWIRE) -- Acura Pharmaceuticals, Inc. (OTCBB:ACUR) today announced it has secured gross proceeds of $600,000 and a commitment for additional funding of up to $600,000 under a term loan agreement (the “March 2007 Bridge Loan”) with 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 “Bridge Lenders”). The March 2007 Bridge Loan bears an annual interest rate of 10%, is secured by a lien on all assets of the Company and its subsidiary, is senior to all other Company debt, and matures on September 30, 2007. In addition, all prior Company bridge loans were amended (the “Bridge Loan Amendment”) to extend their maturity date to September 30, 2007. Including the $600,000 secured today, the Company has a total of $9.3 million in bridge loans (collectively the “Bridge Loans”) outstanding and due on September 30, 2007.
