The Life Sciences and Debt Finance teams advised R-Bridge Healthcare Investment Advisory, Ltd. on its $60 million non-recourse loan agreement with Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK). This transaction marks the first Chinese royalty-based financing.
The loan will be repaid with proceeds from (i) royalties from Paratek’s License and Collaboration Agreement with Zai Lab (Shanghai) Co., Ltd. and (ii) a 2.5% revenue interest in U.S. net sales of NUZYRA® (omadacycline), which may be adjusted upwards under certain circumstances to up to 5%.
R-Bridge is a member of CBC Group (formerly known as C-Bridge Capital), one of the largest and most active healthcare-dedicated investment firms in Asia. R-Bridge is dedicated in providing alternative, non-dilutive financing backed by royalties, revenue interest and other cash flows generated by the sale of healthcare products and services in Greater China, the first of its kind for the asset class and the region.
Paratek is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases or other public health threats for civilian, government and military use.
The cross-disciplinary Goodwin team that advised R-Bridge was led by John Ilardo (Debt Finance), Art McGivern, Wendy Pan and Yasin Akbari (Life Sciences), and Barry Bazian (Bankruptcy). The team also included Karim Popatia and Owen Remeika (Debt Finance), Cathy McCarty and Ioana Davies (Life Sciences), and Janet Andolina and Nicole Spiteri (Tax).For more details, read the press release and article in Seeking Alpha.