Exaeris, Inyx USA granted emergency access to $428,000 DIP facility

By Caroline Salls

Pittsburgh, Aug. 17 - Exaeris, Inc. and Inyx USA, Ltd. were granted emergency access to up to $428,000 in additional debtor-in-possession financing from Westernbank Puerto Rico, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The additional DIP proceeds will be used for payroll and director operating expenses of Inyx USA's Manati, Puerto Rico, plant.

Interest will be Base rate plus 50 basis points.

The $428,000 will be available on an emergency basis from Aug. 15 through an Aug. 23 interim hearing on the emergency financing.

Parent company Inyx, Inc. is a pharmaceutical company based in New York that develops drug delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions.

Its U.S. subsidiaries - Exaeris and Inyx USA - were placed in bankruptcy on July 2, and their Chapter 11 case number is 07-10887.

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