- Marinus Pharmaceuticals ( NASDAQ: MRNS ) has entered into a revenue interest financing agreement with Sagard Healthcare Partners for a total of $32.5M upfront in return for payments based on U.S. net sales of ganaxolone, including the recently approved ZTALMY oral suspension CV.
- Under the terms of the revenue interest financing agreement, Sagard will provide company with an upfront cash payment of $32.5 million in exchange for tiered payments on annual U.S. net sales of ganaxolone, including ZTALMY, as follows: 7.5% on net sales through the first half of 2026; after that, 15% on net sales less than $100 million annually; and 7.5% on net sales greater than $100 million annually, providing an average rate of approximately 10% based on current sales forecasts.
- “This $32.5 million of non-dilutive capital is expected to provide a meaningful extension of our cash runway into the first quarter of 2024,” said Steven Pfanstiel, Chief Financial Officer of Marinus. “Importantly, this supports continued commercial and R&D investment inclusive of our current ZTALMY launch, as well as our ongoing Phase 3 trials in refractory status epilepticus and tuberous sclerosis complex.”
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Marinus Pharmaceuticals enters $32.5M interest financing agreement with Sagard Healthcare Partners