Trevena Closes $40 Million Revenue-based Financing with CBC Affiliate
publication date: Apr 18, 2022
Trevena, a Philadelphia-area CNS biopharma, closed a $40 million revenue-based financing from an affiliate of R-Bridge Healthcare Fund, which is allied with CBC. The funding is tied to future China milestones of Trevena’s Olyinvyk®, a novel injected Schedule II opioid. In 2018, Trevena out-licensed China rights for Olyinvyk to Jiangsu Nhwa Pharma. Trevena will receive $15 million upfront, another $15 million after the first China sale of Olyinvyk® and $10 million after a financing or commercial milestone. The R-Bridge entity will be repaid by receiving all of Trevena’s China revenues from Nhwa, plus a percentage of Trevena’s US Olyinvyk revenues. More details....
Stock Symbol: (NSDQ: TRVN)
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