HOUSTON, Sept. 21, 2007 (PRIME NEWSWIRE) -- Encysive Pharmaceuticals Inc. (Nasdaq:ENCY) today announced that its special purpose subsidiary, Argatroban Royalty Sub LLC ("Royalty Sub"), has refinanced $60 million in aggregate, original principal amount of non-convertible, non-recourse promissory notes (the "Original Notes") sold to institutional investors in February 2007. The Original Notes were secured by royalties paid from sales of Argatroban, a drug licensed by Encysive and sold by GlaxoSmithKline plc ("GSK"), for the treatment of heparin-induced thrombocytopenia, and by a pledge by Encysive of the stock of Royalty Sub.
