Aerocrine pharma deals for debt financing of $50 million which will be used for business development.
The medical device company also raised financing of approx. USD 15 million of equity from OrbiMed and a number of institutional investors through a directed share issue.
Aerocrine will utilize the proceeds from the pharma deals to continue funding growth and expanded commercialization of its current product as well as its pipeline of new devices for diagnosis and management of airway inflammation.
Aerocrine has been focusing its commercialization efforts in the United States and other key international markets.
These efforts require sustained financing to support this expansion.
The combination of debt and equity should provide a proper capital structure for a growth company like Aerocrine.
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