Akin Advises Pharmakon Advisors in its $275 Million Debt Facility with Reata Pharmaceuticals

Akin advised funds managed by Pharmakon Advisors, LP, a leading investor in non-dilutive debt for the life sciences industry, in entering into a $275 million debt facility with Reata Pharmaceuticals, Inc. Reata Pharmaceuticals is a global, biopharmaceutical company committed to developing and commercializing novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation.

The debt facility will be advanced in four tranches. The first tranche of $75 million will be funded on May 12, 2023. The second tranche of $50 million will be funded after meeting certain regulatory or production requirements. The final two tranches of $75 million each will be available based on achieving certain commercial sales milestones. The funding of the last tranche will be at the option of Reata.

To learn more about the transaction, click here.

The Akin team advising Pharmakon Advisors was led by partner Geoffrey Secol and included partners Nate Brown, Craig Bleifer and David Snyder, senior counsel Miriam Foley and Jo-Ellyn Klein, counsel Ekaterina Lyashenko and associates Mendy Fox, Caroline Kessler and Diandra Molina.