Silicon Valley Bank Serves as Joint Lead Arranger for $125 Million Financing for HLS Therapeutics
TORONTO, Sept. 12, 2018 /PRNewswire/ -- Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, today announced that it co-led a $100 million senior secured term loan and $25 million senior secured revolver for HLS Therapeutics, Inc. (TSX-V: HLS), a specialty pharmaceutical company specializing in Central Nervous System ("CNS") and Cardiovascular markets. This financing will support the refinancing of existing debt and provide working capital for the company.
HLS Therapeutics is a specialty pharmaceutical company focused on the acquisition and commercialization of late-stage development, commercial-stage promoted and established branded pharmaceutical products in the North American markets.
"This financing will be used to support our business development efforts, generates substantial interest savings per year compared to our original debt, and enabled us to establish a dividend policy for our shareholders," said Greg Gubitz, CEO of HLS Therapeutics. "We have been very impressed by the SVB team. Their industry knowledge, ability to craft tailored financing solutions and pace of doing business was excellent. They will be a welcome addition to the Canadian banking market."
"We're excited to work with HLS Therapeutics as the company further develops its strong product portfolio," said Joe Hammer, Managing Director of the Healthcare Corporate Finance Practice at Silicon Valley Bank. "The company is led by a strong management team and is well-positioned for continued growth. We strive to provide the best financing, connections and global services to HLS and other dynamic life science companies across the U.S. and Canada."
About Silicon Valley Bank
For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
About HLS Therapeutics Inc.
Formed in 2015, HLS is a specialty pharmaceutical company focused on the acquisition and commercialization of late stage development, commercial stage promoted and established branded pharmaceutical products in the North American markets. HLS's management team is composed of seasoned pharmaceutical executives with a strong track record of success in these therapeutic areas and at managing products in each of these lifecycle stages.
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SOURCE Silicon Valley Bank
Company Codes: TorontoVE:HLS