PARIS, Nov. 4, 2024 /PRNewswire/ -- Dechert has advised Poxel (Euronext: POXEL), a clinical-stage biopharmaceutical company, on its non-dilutive financing agreement with OrbiMed for US$50 million. This transaction monetizes a portion of Poxel's future royalties and sales-based payments from TWYMEEG® sales by Sumitomo Pharma in Japan.
The financing is set to bolster Poxel's strategic initiatives in rare diseases, reduce its debt and support general corporate purposes. The deal underscores the significant value of TWYMEEG® in Japan and strengthens Poxel's financial position.
Poxel is listed on Euronext Paris, developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders. OrbiMed is a leading healthcare investment firm dedicated to accelerating innovation in the biopharmaceutical industry.
The Dechert team that advised Poxel includes corporate and securities partners Patrick Lyons and David Rosenthal; global finance partner Privat Vigand; intellectual property partner Olivia Bernardeau-Paupe; global finance partner Sarah Milam; tax partner Sabina Comis; and associates Etienne Bimbeau, Pierre-Emmanuel Floc'h, Chloe Lebret, Julie Lecomte, Vianney Toulouse and Yasmin Yavari.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital - from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
View original content:https://www.prnewswire.co.uk/news-releases/dechert-advises-poxel-on-us50-million-non-dilutive-financing-agreement-with-orbimed-302295559.html
