Doylestown PA, USA and Oxford, UK - 12 December 2007 – EUSA Pharma Inc (‘EUSA’), a transatlantic specialty pharmaceutical company focused on oncology, pain control and critical care, today announced that it has entered into a $30 million debt facility offered by Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc., and its affiliates.
The funds raised will be used to continue the acceleration of EUSA’s growth, to expand the Company’s pipeline and to further enhance EUSA’s marketing capabilities for its key products, Erwinase, Collatamp and Rapydan, which will be launched following the recent successful completion of the European Mutual Recognition Procedure. Since launching in March, EUSA has made two significant acquisitions, building a pipeline of nine products in development and six marketed products.
“The provision of the debt facility announced today ensures that we are well positioned to accelerate our growth plans and continue to progress towards our goal of becoming a leading transatlantic specialty company,” said Bryan Morton, Chief Executive of EUSA Pharma. “We are delighted to be entering into this arrangement with Merrill Lynch Capital. Their confidence in EUSA is further validation of our strategy to become a leading player in our field.”
About EUSA Pharma Inc
EUSA Pharma is a rapidly growing transatlantic specialty pharmaceutical company focused on in-licensing, developing and marketing late-stage oncology, pain control and critical care products. The company currently has six products on the market, including the antibiotic surgical implant Collatamp® G, Erwinase® and Kidrolase® for the treatment of acute lymphoblastic leukemia, and Rapydan™, a rapid-onset anesthetic patch, which completed the European Mutual recognition Process in October 2007. EUSA also has several products in late-stage development, notably Collatamp® G topical, a gentamicin impregnated collagen sponge for the prevention and treatment of infected skin ulcers, and CollaRx® bupivacaine implant for local post-surgical pain control.
Founded in 2006, EUSA Pharma is supported by a consortium of leading life science capital investors, comprising Essex Woodlands, 3i, Goldman Sachs, Advent Venture Partners, SV Life Sciences, NeoMed and NovaQuest. Since its foundation, the company has raised over $225 million and completed a number of significant transactions, including the acquisitions of Talisker Pharma Ltd, the French biopharmaceutical company OPi SA and the European antibiotic and pain control business of Innocoll Pharmaceuticals Inc. As part of its rapid growth strategy the company has established commercial infrastructure in the US and Canada, a pan-European presence covering over 20 countries and a wider distribution network in a further 25 territories. EUSA Pharma plans to maintain a strong focus on acquisitions and in-licensing within its specialist medical and geographic areas, in line with its ambition to create a $1 billion company by the first half of the next decade.
About Merrill Lynch Capital
Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services Inc., is a leading commercial finance business providing a broad range of structured financing solutions to middle market companies nationwide. Based in Chicago and with regional offices throughout the country, Merrill Lynch Capital is focused on four market segments: corporate finance, equipment finance, healthcare finance and real estate finance. The Healthcare Finance Group of Merrill Lynch Capital provides senior financing solutions for middle market healthcare companies, offering cash flow, asset, life sciences related and real estate based credit facilities and junior secured debt, and equity co-investments. Merrill Lynch Capital is an affiliate of Merrill Lynch Bank USA. For more information, please visit our website at www.mlcapital.ml.com.
For more information please visit www.eusapharma.com.
Contacts EUSA Pharma Bryan Morton, Chief Executive +44 (0) 1865 784 255 Financial Dynamics Julia Phillips / Emma Thompson +44 (0) 20 7831 3113
