Raptor Pharmaceutical Corp. Signs $50 Million Loan Agreement With HealthCare Royalty Partners

Raptor Pharmaceutical Corp. ("Raptor" or the "Company") (Nasdaq:RPTP), today announced that it has signed a $50 million loan agreement with HealthCare Royalty Partners ("HC Royalty") to help fund the commercialization of PROCYSBI™, the branded name of RP103 for the potential treatment of nephropathic cystinosis, and advance the Company's development programs. 

Under the terms of the agreement, Raptor will receive $25 million (the "First Tranche Loan") at closing and an additional $25 million (the "Second Tranche Loan") upon U.S. Food and Drug Administration approval of PROCYSBI. The First Tranche and Second Tranche Loans, which mature on December 31, 2019, bear interest at an annual fixed rate of 10.75% and a Synthetic Royalty® variable rate, tiered down, based on a percentage of future PROCYSBI sales. The loan is interest-only for the first two years. 

"This loan agreement with HC Royalty further validates the growing value of PROCYSBI and Raptor's pipeline. We believe that the proceeds of this financing will provide us with the necessary capital to fund our activities through FDA approval of PROCYSBI, based on our current assumptions for the timing of a potential FDA approval of PROCYSBI, as well as to fund our plans to launch PROCYSBI in the U.S., if approved by the FDA," stated Christopher Starr, Raptor's CEO. "At closing of the first Tranche we will have over $55 million in cash on our balance sheet, with an additional $25 million to be funded under the Second Tranche Loan upon FDA approval of PROCYSBI." 

"There is significant unmet market need for a more tolerable cystinosis treatment with a less burdensome dosing schedule and we believe PROCYSBI will fill that need for patients once it is approved by the FDA," commented Clarke B. Futch, Founding Managing Director at HC Royalty. "We are pleased to partner with Raptor to help fund the commercialization of this important orphan drug."

RAPTOR PHARMACEUTICAL ANNOUNCED FINAL DATA ANALYSIS WILL COMMENCE FOR ITS PHASE 3 CLINIAL TRIAL THIS WEEK (RPTP)

Raptor Pharmaceutical (NASDAQ:RPTP) announced that on June 3 the last clinical trial patient visits were completed and final data analysis will commence this week for its Phase 3 clinical trial of its delayed-release oral formulation of cysteamine bitartrate in patients with nephropathic cystinosis.

"We are pleased to see our final patients complete the Phase 3 clinical trial and are gratified that 40 of the 41 patients completing the study have elected to enter our long-term extension study in which they have chosen to remain on the twice-a-day DR Cysteamine formulation," commented Patrice Rioux M.D., Ph.D., CMO of Raptor. "As our earliest enrolled patients began to enter the extension study in August of last year, some patients have now been treated with DR Cysteamine for over 9 months; we currently have over 6 months of extension data on our first 20 patients."

The company is dedicated to speeding the delivery of new treatment options to patients by working to improve existing therapeutics through the application of highly specialized drug targeting platforms and formulation expertise.

Raptor Pharmaceutical Hires Patrick Reichenberger To Lead Commercial Development Of DR Cysteamine For Nephropathic Cystinosis

Raptor Pharmaceutical Corp. ("Raptor" or the "Company") (Nasdaq:RPTP) announced today the appointment of Patrick Reichenberger to the newly created position of Vice President, Commercial Operations. Additionally, Raptor has engaged Cambrex Corporation (NYSE:CMB) for the manufacturing of the active pharmaceutical ingredient ("API"), cysteamine bitartrate, and Patheon, Inc. (TSX:PTI) to produce the commercial product, DR Cysteamine.

Raptor Pharmaceuticals names new chief medical officer

Raptor Pharmaceuticals, a biotechnology company, has appointed Patrice Rioux as its new chief medical officer. In this role, Dr Rioux will be responsible for the clinical and regulatory advancement of Raptor's clinical-stage drug development programs. 

Most recently, Dr Rioux was chief medical officer (CMO) of FerroKin Biosciences, a developer of iron chelator for treatment of anemias. Prior to that, Dr Rioux was CMO and vice president of clinical and regulatory for Edison Pharmaceutical.

Christopher Starr, CEO of Raptor, said: "As a clinical-stage company with multiple active programs, we are pleased to welcome Dr Rioux. This is an ideal time for Patrice to join Raptor. We believe his successful clinical and regulatory track record will serve us well as we prepare for a pivotal clinical trial in our lead clinical program, DR Cysteamine in cystinosis, and position us to advance our other clinical-stage programs through the clinic and into the market."