Kaléo receives $150 million debt financing
Richmond-based kaléo announced Monday it has entered into a $150 million debt facility with Nevada-based PDL BioPharma. The funds will allow kaléo to support the commercialization of its anti-overdose-injector EVZIO, invest in the development of key pipeline products and repay existing debt.
EVZIO, approved by the Federal Drug Administration last week, is a pre-filled, single-use auto-injector that can be used by family members or caregivers to treat a person known or suspected to have an opioid overdose.
PDL BioPharma manages a portfolio of patents and royalty assets, consisting primarily of its Queen et al. antibody humanization patents and license agreements with various biotechnology and pharmaceutical companies