RxElite, Inc. Announces $5,000,000 Financing Agreement With NPIL Pharma Inc.
June 05 2008 - 1:15PM
Marketwired
MERIDIAN, ID , a developer, manufacturer, and marketer of
specialty generic prescription drug products, today announced it
has entered into an agreement with NPIL Pharma Inc. (N.Pharma) to
fund up to $5,000,000 through a secured subordinated debt
agreement, of which $3,000,000 was advanced to RxElite at
Closing.
"This investment by N.Pharma will allow us to maintain our
strong momentum in our Sevoflurane business through continued
investment in anesthetic vaporizers and implementation of key
customer contracts," stated Jonathan Houssian, CEO and founder of
RxElite.
About RxElite, Inc.
RxElite, Inc. develops, manufactures, and markets generic
prescription drug products in specialty generic markets. These
markets include products in the areas of anesthesia, sterile liquid
dose drugs (including respiratory inhalation drugs, ophthalmics,
and injectable drugs), complex active pharmaceutical ingredients,
and other specialty areas. www.RxElite.com.
About NPIL Pharma Inc.
With assets across North America, UK and India, NPIL Pharma
offers development and commercial scale manufacture services in
both API and Formulations. www.NPILPharma.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
involving known and unknown risks, delays, and uncertainties that
may cause our actual results or performance to differ materially
from those expressed or implied by these forward-looking
statements. These risks, delays, and uncertainties include, but are
not limited to: risks associated with the uncertainty of future
financial results, our reliance on our sole supplier, the limited
diversification of our product offerings, additional financing
requirements, development of new products, government approval
processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities
and Exchange Commission. The Company undertakes no obligation to
update any forward-looking statements.
Corporate Information Ph: (208) 288-5550 Toll Free: (800)
414-1901 Fax: (208) 288-1191 Investor Relations Ph: (208) 288-5550
Fax: (208) 288-1191 Email: Email Contact
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