York Pharma settles $51.2 million financing

By Devika Patel

Knoxville, Tenn., Oct. 3 - York Pharma plc said it completed a $7.18 million institutional placing and a $44.02 million loan in the form of senior secured debt and convertible notes.

Rodman & Renshaw, LLC was the lead agent.

Proceeds will be used to finance the acquisition of the worldwide commercial rights to two skin care and wound healing products, Flammazine and Flammacerium, from Solvay Pharmaceuticals BV and to support future operations.

Based in Milton Keynes, England, York Pharma is a pharmaceutical company focused on dermatology products.

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