Ironshore Pharmaceuticals secures US $200M financing

Ted Liu

Updated on:

Ironshore Pharmaceuticals & Development, Inc., a wholly owned subsidiary of Highland Therapeutics Inc., has raised US $200 million by way of private placement of 13% Senior Secured Notes due 2024.

Canadian investors subscribed [mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content##[/mepr-active][mepr-active rule=”374″]US $24.375[/mepr-active] million of the private placement.

Morgan Stanley & Co. LLC acted as sole placement agent for the transaction. Goodmans LLP acted as Lead Counsel, Morrison & Foerster LLP acted as U.S. counsel and Solomon Harris acted as Cayman Islands counsel for Ironshore.

Based in Cayman Islands, Ironshore Pharmaceuticals & Development, Inc. is a pharmaceutical company that is leveraging its proprietary technology, DELEXIS, to optimize the delivery of previously approved drug products.

photo credit: Ironshore Pharmaceuticals & Development