OrbiMed Advisors has provided a $200 million debt facility to Plymouth Meeting, Pennsylvania-based Harmony Biosciences LLC, a pharmaceutical company focused on treating people living with rare diseases. Octagon Capital Group LLC was financial adviser to Harmony on the deal while Katten Muchin Rosenman LLP served as legal counsel.
PLYMOUTH MEETING, Pa., Jan. 27, 2020 /PRNewswire/ — Harmony Biosciences, LLC (“Harmony”), a private pharmaceutical company dedicated to developing and commercializing novel treatment options for people living with rare diseases, announced today that it has completed a $200 million debt facility with OrbiMed Advisors LLC (“OrbiMed”), one of the leading investors in the healthcare industry, to provide additional capital to fuel the company’s continued growth.
“We are pleased to announce the completion of this debt facility with OrbiMed, a leading healthcare public and private market investment firm,” said John C. Jacobs, Chairman and CEO of Harmony. “With this financing, Harmony will be well positioned to continue to develop new medications consistent with our goal of helping additional people living with rare diseases.”
Susan L. Drexler, Harmony CFO added, “We are proud to have successfully closed on this debt facility with OrbiMed, which we believe will help support Harmony’s financial growth objectives including the successful commercialization of WAKIX in the U.S.”
On August 14, 2019, the U.S. Food and Drug Administration approved Harmony’s first product, WAKIX® (pitolisant) tablets. Harmony continues to execute on the commercial launch of WAKIX in the U.S.
In connection with this transaction, Octagon Capital Group, LLC served as financial advisor and Katten Muchin Rosenman LLP served as legal counsel to Harmony.
About Harmony Biosciences, LLC
Harmony Biosciences, LLC is a private pharmaceutical company headquartered in Plymouth Meeting, PA. The company was established in October 2017 with a vision to provide novel treatment options for people living with rare and orphan diseases, with an emphasis on central nervous system disorders, starting with patients living with narcolepsy. Harmony is committed to advancing the understanding of narcolepsy and providing information and resources to individuals who live with, and healthcare professionals who treat patients with, this disorder. For more information on Harmony Biosciences, visit www.harmonybiosciences.com.
OrbiMed is a leading healthcare investment firm, with $13 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, utilizing a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed maintains offices in New York City, San Francisco, Shanghai, Hong Kong, Mumbai and Herzliya. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies.
About Octagon Capital Group
Octagon Capital Group is a merchant banking firm that combines top-tier investment banking with an intense focus on building shareholder value. Bringing extensive transactional and tactical expertise, Octagon completed over $1.2 billion of equity, debt and M&A transactions in the last 12 months. Octagon is a registered broker-dealer with FINRA and member SIPC. For additional information, visit www.octagoncg.com.