UDENYCA®
Structured Credit$75 Million
Jan 2019
MarketerCoherus Biosciences
Coherus Biosciences (NASDAQ:CHRS) is a leading pure-play, global biosimilars company. Coherus has one biosimilar, UDENYCA®(pegfilgratim/neulasta) approved by both the FDA and the EMA, and is advancing two late-stage clinical products towards commercialization, CHS-0214 (etanercept/ Enbrel biosimilar) and CHS-1420 (adalimumab/ Humira biosimilar), which are currently in phase 3 or BLA-enabling trials.
Background
After the approval of UDENYCA® in November 2018, Coherus was seeking to raise non-dilutive capital to help bolster its balance sheet. In January 2019, Coherus entered into a $75 million senior secured credit facility with HCR. This non-dilutive financing will be used to help fund the launch of Coherus’ recently approved biosimilar, as well as to further development of its pipeline products.