0PNT Acacia Pharma Group Plc

 
TIDMACPH 
 
 
   THIS ANNOUNCEMENT CONTAINS REGULATED INFORMATION. THIS ANNOUNCEMENT 
CONTAINS INSIDE INFORMATION 
 
   Acacia Pharma Announces Early Repayment of Loan Facility from Hercules 
Technology Growth Capital 
 
   Reduction in Debt Service Obligations 
 
   Cambridge, UK and Indianapolis, US -- 4 May 2021, 07:00 CEST: Acacia 
Pharma Group plc ("Acacia Pharma", the "Group" or the "Company") 
(EURONEXT: ACPH), a hospital pharmaceutical company focused on the 
development and commercialization of new products aimed at improving the 
care of patients undergoing significant treatments such as surgery, 
other invasive procedures or cancer chemotherapy, announces the early 
repayment and settlement in full of its debt facility with Hercules 
Technology Growth Capital, Inc. ("Hercules") (NYSE: HTGC) and, pursuant 
to the debt facility agreement already in place with Cosmo 
Pharmaceuticals N.V. ("Cosmo"), the proposed granting of security to 
Cosmo in consideration for a reduction in the coupon rate. 
 
   Acacia Pharma has made early repayment in full settlement of all amounts 
outstanding under its loan facility from Hercules, as provided for under 
the terms of the Hercules loan facilty agreement (the "Hercules 
Agreement"), announced on 2 July 2018. This early repayment, totalling 
approximately $4.3 million, satisfies in full the Company's obligations 
under the Hercules Agreement and as a result, all security provided by 
Acacia Pharma to Hercules under the Hercules Agreement will be released. 
 
   Under the terms of the debt facility currently in place with Cosmo, the 
Company is to grant security to Cosmo on materially similar terms to 
those granted under the Hercules Agreement in consideration for a 
reduction in the coupon payable on the Cosmo debt facility of 200 basis 
points (9% versus 11%). This will lead to a reduction in the amount of 
interest payable by Acacia Pharma of approximately EUR500k per annum. 
 
   The terms on which security will be granted to Cosmo will be finalised 
as soon as reasonably practicable following this announcement. 
 
   Gary Gemignani, Acacia Pharma CFO, commented: "The actions that we are 
taking will lower our annual debt service costs and allow us to deploy 
more of our capital to fund the launch of our products. We will continue 
to look for ways to further finance the growth of our business under 
favorable commercial terms, as we progress the successful 
commercialization of BARHEMSYS(R) and BYFAVO(TM) in the US." 
 
   Contacts 
 
 
 
 
Acacia Pharma Group plc             International Media 
 Mike Bolinder, CEO                  Mark Swallow, Frazer Hall, David 
 Gary Gemignani, CFO                 Dible 
 +44 1223 919760 / +1 317 505 1280   Citigate Dewe Rogerson 
 IR@acaciapharma.com                 +44 20 7638 9571 
                                     acaciapharma@citigatedewerogerson.com 
US Investors                        Media in Belgium and the Netherlands 
 LifeSci Advisors                    Chris Van Raemdonck 
 Irina Koffler                       +32 499 58 55 31 
 +1 917-734-7387                     chrisvanraemdonck@telenet.be 
 ikoffler@lifesciadvisors.com 
 
 
   About Acacia Pharma 
 
   Acacia Pharma is a hospital pharmaceutical company focused on the 
development and commercialization of new products aimed at improving the 
care of patients undergoing significant treatments such as surgery, 
other invasive procedures, or cancer chemotherapy. The Company has 
identified important and commercially attractive unmet needs in these 
areas that its product portfolio aims to address. 
 
   Acacia Pharma's first product, BARHEMSYS(R) (amisulpride injection) is 
available in the US for the management of postoperative nausea & 
vomiting (PONV). 
 
   BYFAVO(TM) (remimazolam) for injection, a very rapid onset/offset IV 
benzodiazepine sedative is approved and launched in the US for use 
during invasive medical procedures in adults lasting 30 minutes or less, 
such as colonoscopy and bronchoscopy. BYFAVO is in-licensed from Paion 
UK Limited for the US market. 
 
   APD403 (intravenous and oral amisulpride), a selective dopamine 
antagonist for chemotherapy induced nausea & vomiting (CINV) has 
successfully completed one proof-of-concept and one Phase 2 dose-ranging 
study in patients receiving highly emetogenic chemotherapy. 
 
   Acacia Pharma has its US headquarters in Indianapolis, IN and its R&D 
operations are centred in Cambridge, UK. The Company is listed on the 
Euronext Brussels exchange under the ISIN code GB00BYWF9Y76 and ticker 
symbol ACPH. 
 
   Acacia Pharma Group plc 
 
   The Officers' Mess, Royston Road, Duxford, Cambridge, CB22 4QH, United 
Kingdom 
 
   Company number 9759376 
 
   www.acaciapharma.com 
 
 
 
 

(END) Dow Jones Newswires

May 04, 2021 01:00 ET (05:00 GMT)

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