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Zogenix secures $30mm in cash from Cowen in exchange for royalties
13 Sep 2018
Zogenix Inc. has received $30mm in cash from Cowen Healthcare Royalty Partners II LP. The neurology drug company will repay the debt using a percentage of product sales and co-promotion and out-licensing revenues from its migraine and headache treatment Sumavel DosePro (which is partnered with Astellas in the US), and future drugs including chronic pain candidate Zohydro (hydrocodone; formerly ZX002), which is finishing up Phase III and could be filed for approved in early 2012. The transaction will expire on March 31, 2018.
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