The Financing Enables KemPharm to Advance its Full Pipeline of Abuse-Deterrent Prodrugs
June 10, 2014 – KemPharm, Inc., a Bridgepoint Investment Partners I, LLLP portfolio company, announced that it has secured a $60 million financing agreement from Deerfield Management Company. Deerfield has committed to invest $10 million through a senior secured convertible note and up to an additional $50 million senior secured term debt facility. The facility provides KemPharm with capital to fund its clinical and regulatory operations and to advance its lead product candidate, KP201, through regulatory approval and initiate commercialization. KP201 is being developed as an abuse-deterrent opioid analgesic.
Travis C. Mickle, Ph.D., President and CEO of KemPharm, commented, “This financial commitment by Deerfield significantly strengthens KemPharm and enables the rapid advancement of our abuse-deterrent product pipeline.”
About Bridgepoint Merchant Banking
Bridgepoint Merchant Banking is a lower and middle market investment banking and private equity firm headquartered in Nebraska and Iowa that serves business owners and companies over their corporate lifecycles by providing merger and acquisition and corporate finance advisory services. Bridgepoint Merchant Banking also invests capital directly into companies through its private equity and venture capital funds.