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Investing.com -- Aquestive Therapeutics Inc (NASDAQ:AQST) stock rose 5.7% following the announcement of a $75 million strategic funding agreement with RTW Investments, LP, contingent on FDA approval of its Anaphylm sublingual film.
The funding deal is designed to support Aquestive through 2027, providing capital needed to commercialize Anaphylm, which could become the first oral rescue medication for severe allergic reactions including anaphylaxis. Under the agreement, RTW will receive a tiered single-digit percentage of annual U.S. net sales of Anaphylm, subject to a cap.
"We continue to believe Anaphylm, potentially the first and only oral rescue medication for the treatment of severe allergic reactions, including anaphylaxis, can transform how patients carry and access their rescue medication," said Dan Barber, Chief Executive Officer of Aquestive.
The financing will become available upon FDA approval of Anaphylm and satisfaction of certain refinancing and other conditions related to the company’s existing debt. Roderick Wong, Managing Partner and Chief Investment Officer of RTW Investments, expressed confidence in Anaphylm’s commercial prospects as a rescue treatment.
Cantor Fitzgerald & Co served as exclusive financial advisor to Aquestive on the royalty financing transaction.
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