-- Signature Underscores the Firm's Commitment to Sustainability & ESG Considerations --
Boulder, Colorado – November 14, 2019 – CRG, a premier healthcare-focused investment firm, today announced that it has signed the United Nations-supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for institutional asset owners and investors who have committed to integrating environmental, social, and governance (ESG) considerations into their investment decisions.
CRG believes that balancing ESG issues with financial priorities is fundamental to sound risk management and a core part of corporate responsibility. CRG has incorporated ESG principles into the firm’s…Read More »
New York, Jan. 16, 2019 /PRNewswire/ -- CRG, a premier healthcare-focused investment firm, today announced a $70 million commitment to Mid-Atlantic Dental Partners ("Mid-Atlantic), a dental support organization dedicated to improving the delivery of dental services for patients in several markets across the country and a portfolio company of S.C. Goldman & Company, LLC ("S.C. Goldman"). Mid-Atlantic recently completed the acquisition of Birner Dental Management Services, Inc. (OTCQX: BDMS), which operates dental practice affiliates under the Perfect Teeth brand throughout Colorado, Arizona, and New Mexico.
"By taking responsibility for all the non-clinical activities that go into running a dental practice, Mid-Atlantic has successfully partnered with dentists to…Read More »
New York, Nov. 26, 2018 /PRNewswire/ -- CRG, a premier healthcare-focused investment firm, today announced a $65 million commitment to HNI Healthcare ("HNI"), a technology-enabled physician practice management company focused on the delivery of full-service facility-based physician programs. HNI recently completed the acquisition of Martin Healthcare Group ("MHG"), a 40-year-old privately held company dedicated to the delivery of inpatient care and staffing solutions to acute and post-acute care hospitals across the Midwest and Florida.
"As the country's healthcare system continues its shift towards value-based care models, hospitals are being asked to deliver better outcomes at a lower cost," said Scott Li, Managing Director at CRG. "HNI's…Read More »
Boulder, Colorado - August 13, 2018 -- CRG, a premier healthcare-focused investment firm, today announced three firm-wide promotions, naming Scott Li as Managing Director, and appointing Zain Shekhani and Kevin Reilly as Vice President, effective immediately.
“We congratulate this high performing group of individuals and recognize their significant contributions to CRG’s ongoing success,” said Nate Hukill, Managing Partner and Chairman of CRG. “These promotions highlight our deep bench of world-class investing talent, enable our continued growth, and will help us efficiently deploy growth capital to more healthcare companies while generating strong risk-adjusted returns for our institutional partners.”
-- Provides CRG with additional leverage capacity and supports management's strategy of deploying capital to commercial-stage healthcare companies --
New York – June 26, 2018 – CRG, a premier healthcare-focused investment firm, today announced the closing of a $204 million financing on behalf of CRG Partners III, L.P. and certain of its parallel investment vehicles (collectively, “Fund III” or the “Fund”). The transaction was completed on June 25, 2018.
The securitization – or Asset-Backed Securities financing – is the third such financing completed by CRG since 2016 and reinforces CRG’s continued strong access to the capital markets. This…Read More »
New York – June 6, 2018 – CRG, a leading healthcare investment firm, today announced a partnership with Fast Pace Urgent Care (“Fast Pace”), a leading provider of urgent care clinics across rural Tennessee, Kentucky, and Mississippi, and its private equity sponsor Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm. The transaction resulted in a refinancing that provided additional capital for continued growth of Fast Pace.
“Fast Pace’s growing footprint and highly differentiated business model provide underserved rural populations with access to high quality, affordable healthcare,” said Scott Li, Principal at CRG. “The Company has a clear value…Read More »
Boulder, Colorado – May 1st, 2018 – CRG, a leading healthcare investment firm, today announced the appointment of Todd Holmes as Principal in the firm’s Boulder office. Mr. Holmes will join CRG’s investment team and help in all aspects of the investment process.
Mr. Holmes brings to CRG more than 14 years of experience sourcing, structuring, and executing investments in healthcare, biotechnology and life sciences companies. Most recently, Mr. Holmes was a founding member and Director at Gurnet Point Capital, a life sciences and healthcare-focused investment fund. Previously, Mr. Holmes was a Senior Associate at Third Rock Ventures, where…Read More »
-- Founder Charles Tate to serve as Chairman Emeritus --
Boulder, Colo. – April 18th, 2018 – CRG, a leading healthcare investment firm, today announced the completion of the transfer of control of the firm to Nathan Hukill, President and Chairman, effective March 31, 2018. In connection with the transfer, Charles Tate will retire from day-to-day operations of CRG and will serve as Chairman Emeritus of the company.
“This leadership transition ensures the long-term success of CRG and enables the current management team to continue executing its differentiated strategy of providing growth capital to commercial-stage healthcare companies and targeting…Read More »
-- Proceeds to be Used to Commercialize HEPLISAV-B™ [Hepatitis B Vaccine (Recombinant), Adjuvanted] in United States and Advance Company's Immuno-Oncology Product Candidates --
-- Company Deploying HEPLISAV-B Field Sales Team --
Berkeley, Calif., Feb. 20, 2018 (GLOBE NEWSWIRE) -- Dynavax Technologies Corporation (NASDAQ:DVAX) today announced that it has closed on a $175 million non-dilutive term loan agreement with CRG LP, a healthcare focused investment firm. Dynavax will receive $100 million in a first tranche and up to an additional $75 million may be borrowed in a second tranche at Dynavax's option.
"This non-dilutive financing, together with our…Read More »
-- Continues momentum executing growth capital investment strategy to commercial-stage healthcare companies --
Boulder, Colo. – November 28, 2017 – CRG, a preeminent healthcare-focused investment firm, today announced cumulative financing commitments of $881 million in 11 new commercial-stage healthcare investments over the last 12 months. In addition, the firm generated realizations from eight portfolio company liquidity events during the same 12-month period, including M&A transactions and refinancing activities, resulting in a total of more than $425 million in proceeds to CRG and its institutional partners.
“We continue to selectively deploy the capital of our latest fund in commercial-stage…Read More »
New York, September 5, 2017 --Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), announced today that the Company has closed on a $300 million debt financing structured as senior secured loans from CRG LP, a healthcare focused investment firm, and its lender syndicate.
“This non-dilutive financing enhances our cash position and provides us with financial flexibility to continue to execute on the launch of TRULANCE and achieve our business objectives, which we are confident will ultimately maximize long-term shareholder value,” said Gary Gemignani, EVP and Chief Financial Officer of Synergy Pharmaceuticals Inc. “The structure of this financing provides us with access to capital…Read More »
Houston – July 31, 2017 – CRG, a premier healthcare-focused investment firm, today announced the closing of a $355 million term loan securitization on behalf of CRG Partners III, L.P. and certain of its parallel investment vehicles. The transaction was completed on July 27, 2017.
The securitization transaction – or Asset-Backed Securities financing – is the second securitization completed by CRG and represents the latest milestone in CRG’s ability to deliver pioneering growth capital financing solutions to the global healthcare market. The financing consists of $355 million of notes that were sold through a private placement offering. The financing…Read More »
-- Financing Comprised of $50 Million Credit Facility and $3 Million Equity Investment --
-- Simultaneously Retiring Existing Debt --
-- Funds Received at Close Provide Sufficient Cash Under Current Operating Plan to Extend Cash Runway to Positive Cash Flow --
Dublin, Ireland and Trevose, Pa., July 17, 2017 (GLOBE NEWSWIRE) -- Strongbridge Biopharma plc, (Nasdaq:SBBP), a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs, today announced that it has entered into a $50 million senior credit facility with CRG LP (“CRG”), a healthcare-focused investment firm, to retire its existing debt facility and provide additional capital for the Company. …Read More »
Earlens said today it closed a total of $118 million in funding, with $73 million coming from an offering of Series C preferred stock and $45 from a structured debt facility with CRG LP.
The Earlens device, which won 510(k) clearance from the FDA in October 2015, uses a laser diode attached to a behind-the-ear audio processor to transmit sound to the receiver against the patient’s eardrum, to directly contact the patient’s eardrum and use it as a speaker, the Menlo Park, Calif.-based company said.
“We are pleased to partner with CRG which has unrivaled healthcare investing expertise. This investment…Read More »
Vancouver, Canada, May 15, 2017 -- Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) ("Cardiome" or the "Company") today announced that it has amended its term loan agreement with CRG-managed funds (the "Amended Agreement") that was originally entered into on June 13, 2016. The Amended Agreement provides Cardiome with up to $50 million of available borrowing capacity.
William Hunter, M.D., President and CEO of Cardiome commented, “We are delighted to expand our agreement with CRG. We began our relationship under the premise that CRG would offer a platform to scale with Cardiome’s growing business, and we are pleased that…Read More »
Funding Supports FDA Approval Process and Global Market Access
BOSTON, May 10, 2017 /PRNewswire/ -- Intrinsic Therapeutics, Inc. a medical device company that has developed a product to improve outcomes in lumbar discectomy patients, announced today that it recently closed a $49 million round of financing. The financing included a $28 million equity round co-led by New Enterprise Associates (NEA) and Delos Capital, coupled with a $21 million debt facility with CRG. Other investors include Greenspring Associates, Quadrille Capital and a corporate strategic. The Company's Barricaid Anular Closure Device is designed to prevent repeat herniation in patients undergoing lumbar discectomy surgery to treat sciatic pain caused by a…Read More »
-- Announces Preliminary Q1 2017 New Orders and Cash Position Reiterates 2017 Financial Guidance --
CLEVELAND, OH April 13, 2017 — ViewRay, Inc. (Nasdaq: VRAY) today announced that it has reached an agreement to amend the terms of its $50.0 million Term Loan Agreement with CRG LP to expand the borrowing capacity to $65.0 million, along with other updates to the agreement.
Modifications to the CRG Term Loan Agreement include:
- Addition of a $15.0 million tranche of borrowing capacity available at ViewRay’s option through September 30, 2017.
- Availability of the existing $5.0 million tranche…
-- Upfront proceeds extend cash runway into 2nd half of 2018 --
RALEIGH, N.C., Feb. 23, 2017 -- BioDelivery Sciences International, Inc. (NASDAQ: BDSI) announced today that it has entered into a senior credit facility with affiliates of CRG LP, a healthcare-focused investment firm, to retire its existing credit facility and provide additional working capital for the company.
The new credit facility consists of $45 million to be drawn at closing and the ability to access additional funding of up to an aggregate of $30 million in two tranches for a total of $75 million based on the…
BRIDGEWATER, N.J., Feb. 15, 2017 (GLOBE NEWSWIRE) -- Valeritas Holdings, Inc. (OTCQB:VLRX) today announced that it has reached agreement with both of its secured creditors (funds affiliated with CRG and WCAS Capital Partners IV, L.P., an affiliate of Welsh, Carson, Anderson and Stowe) to convert a total of $27.5 million of debt to preferred stock, subject to certain conditions.
Specifically, Valeritas and the two creditors have agreed to convert approximately one-half of the outstanding $55.0 million principal amount into shares of preferred stock at a price to be calculated as described in the executed agreement. The shares of preferred…Read More »
BRIDGEWATER, N.J., Feb. 09, 2017 (GLOBE NEWSWIRE) -- Valeritas Holdings, Inc. (OTCQB:VLRX) today announced that it has reached an agreement with its largest lender, Capital Royalty Group (CRG), to amend its existing $50 million senior secured term loan agreement, extending the Company’s payment obligations.
Specifically, the amendment extends the interest only-period period to May 2019 from May 2018, extends the deadline for full payment of the loan to May 2022 from May 2021, and reduces the mandated liquidity covenant to allow for a minimum cash balance of $2.0 million from a minimum cash balance of $5.0 million.
“These…Read More »
Houston, Jan. 11, 2017 – Endoceutics, Inc., a private Quebec City based biopharma company, today announced that it has entered into a long-term $85 million senior credit facility with CRG LP, a healthcare-focused investment firm. The proceeds will support the commercial launch of its FDA-approved product, Intrarosa™, and fund additional research and development in its women’s health and oncology focused pipeline.
On November 16, 2016, Intrarosa™ received FDA approval to treat women experiencing moderate to severe pain during sexual intercourse (dyspareunia), a symptom of vulvar and vaginal atrophy (VVA)/Genitourinary Syndrome of Menopause (GSM) due to menopause. Intrarosa™ is the…Read More »
Retiring Former Debt Facility; Significantly Decreases Near-Term Cash Needs
Lexington, Mass., Jan. 05, 2017 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a company developing innovative diagnostic products that improve patient health and deliver a strong economic return to healthcare institutions, today announced that it has entered into a $50 million debt facility agreement with CRG LP. The new facility consists of an initial draw of $40 million and the ability to borrow an additional $10 million through and including July 27, 2018, based on certain operating milestones.
The company is using approximately $28 million of the initial term…Read More »
HOUSTON – January 4, 2017 – CRG, a global healthcare investment firm with more than $3 billion in assets under management, today announced the final closing of CRG Partners III L.P. (together with its parallel investment vehicles, “Fund III”). Fund III reached its hard cap of $1.25 billion of capital commitments from investors, exceeding its original target by 25 percent. Total investable capital for Fund III is expected to approach $2 billion, including debt financing.
“The market opportunity for healthcare private credit investing remains strong,” said Nathan Hukill, president of CRG. “Fund III provides us with additional capital to…Read More »
SAN DIEGO--(BUSINESS WIRE)--Tandem Diabetes Care®, Inc. (NASDAQ: TNDM) today announced that it has initiated the drawdown of $35 million under the company’s previously announced term loan facility with Capital Royalty Partners II L.P. and its affiliated funds ("CRG"). The transfer of funds is scheduled to take place by December 31, 2016.
“Our access to CRG’s debt facility as part of our overall financing strategy has allowed us to invest in commercialization and research and development efforts to become the fastest growing insulin pump company in the United States,” said Kim Blickenstaff, Tandem’s President and Chief Executive Officer. “We value…Read More »
Houston, Oct. 28, 2016 -- Omeros Corporation (NASDAQ: OMER) today announced that it has entered into a senior credit facility with CRG LP, a healthcare-focused investment firm, to retire the company’s existing credit facility, minimizing restricted cash requirements and providing additional working capital for its advancing pipeline.
The new credit facility consists of an $80 million term loan to be drawn by the company within ten business days and the ability, subject to the satisfaction of certain conditions to access additional funding of up to an aggregate of $45 million in two tranches through December 31, 2017.…
Houston, Oct. 19, 2016 -- CRG, a global healthcare-focused investment firm supporting innovative healthcare companies, announced today the appointment of Adam Whitehead as Vice President of Investor Relations in the firm's Boulder office. Mr. Whitehead will help build and manage relationships with CRG's limited partners and expand the firm's investor relations strategy. Mr. Whitehead will report to Mike Weinmann, Managing Director at CRG.
Mr. Whitehead brings to CRG more than 10 years of experience in asset allocation, manager due diligence and fundraising, and established relationships with institutional investors. Previously, Mr. Whitehead spent six years as a senior investment analyst at Crestone Capital…
Houston, Oct. 18, 2016 -- CRG, a global healthcare-focused investment firm supporting innovative healthcare companies, today announced cumulative financing commitments of $458 million across eight public and private, commercial-stage healthcare companies since the beginning of 2016.
"Over the last 12 months, we have continued to experience a significant uptick in financing activity with cumulative commitments of over $650 million," said Nate Hukill, President of CRG. "Additionally, we have deployed more than $2.0 billion to public and private commercial-stage healthcare companies since 2009, generating attractive risk-adjusted returns for our institutional partners. This momentum is a testament to the investment team's…Read More »
Financing to Accelerate Growth of the Business Through Investments and Acquisitions
Reston, VA – September 8, 2016 – Specialists On Call, Inc. (“SOC”), the nation’s leading provider of clinical telemedicine services to acute care hospitals, today announced that it has raised $50 million in new capital through a combination of equity and a credit facility from CRG, a healthcare-focused investment firm delivering pioneering growth capital solutions to the global healthcare market. SOC intends to use the funds to accelerate its robust organic growth and actively pursue strategic acquisition opportunities.
"We are pleased to have the support of our…Read More »
PHILADELPHIA - June 29, 2016 - PRNewswire -- Iroko Pharmaceuticals, LLC, a global specialty pharmaceutical company dedicated to advancing the science of analgesia, announced today that the company has entered into a $140 million debt facility agreement with CRG LP to retire an existing debt facility and provide additional working capital for the company.
"We are very pleased to enter into this agreement with CRG, an investment partner known for its strategic investments in healthcare," said Osagie Imasogie, Executive Chairman and CEO of Iroko. "This financing will assist us in fulfilling our mission of making available Iroko's low-dose SoluMatrix®NSAIDs to…Read More »
--- Additional funding to support commercialization of Pantheris™ ---
REDWOOD CITY, Calif., June 15, 2016 (GLOBE NEWSWIRE) -- Avinger, Inc., (NASDAQ:AVGR) a leading developer of innovative treatments for peripheral artery disease (PAD), announced today that it has completed its second drawdown under the previously announced term loan facility with CRG LP (formerly known as Capital Royalty) and its affiliate funds ("CRG") for proceeds of $10 million before closing fees. The term loan facility gives the Company access to borrow up to $50 million, inclusive of the initial draw of $30 million in September 2015 and this tranche of…Read More »
VANCOUVER, Canada, June 14, 2016 -- Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) ("Cardiome" or the "Company") today announced that it has entered into a term loan agreement (the "Agreement") with CRG-managed funds. The Agreement provides Cardiome with up to $30 million of available borrowing capacity.
Under the terms of the Agreement, CRG and its managed funds will initially provide $20 million which will be used to retire existing debt and for general working capital purposes. Up to $10 million of additional funding will be available to Cardiome in two tranches, through June 2017, subject…Read More »
Houston, TX - May 25, 2016 – CRG, a healthcare-focused investment firm delivering pioneering growth capital solutions to the global healthcare market, announced today that David Carter has been promoted to Managing Director.
Mr. Carter joined the firm in 2003 and previously served as a Principal. Mr. Carter’s responsibilities include identifying, structuring, and leading due diligence related to new financing transactions, monitoring existing investments, and managing the firm’s junior investment team members. During his tenure at CRG, Mr. Carter has been directly involved in over 30 investments, representing more than $1.5 billion of committed capital.
“David’s diligence expertise…Read More »
-- Financing Receives A- Rating by the Kroll Bond Rating Agency --
NEW YORK, NY, February 1, 2016 – CRG, a healthcare-focused investment firm delivering pioneering growth capital solutions to the global healthcare market, announced today that it closed on a $167 million term loan securitization on behalf of Capital Royalty Partners II, L.P. and certain of its parallel investment vehicles (“CRG II”, or the “Fund”). The transaction was effective on January 15, 2016.
The securitization transaction – or Asset-Backed Securities (“ABS”) financing – is the first securitization completed by CRG and represents a significant milestone…
January 18, 2016 – Autonomic Technologies, Inc. (“ATI”), a medical device company focused on the development and commercialization of innovative therapies for the treatment of severe headache, secured expansion financing from CRG, a premier healthcare investment firm. ATI has developed the Pulsante™ SPG Microstimulator System to provide on-demand Sphenopalatine Ganglion (“SPG”) stimulation therapy with the intention to relieve the acute debilitating pain of cluster headache. Pulsante is a minimally-invasive, rechargeable, multi-channel, peripheral nerve stimulation system.
“We are pleased to have the support of CRG, an investment partner renowned for its strategic investments in healthcare,” said Gary Burbach, CEO of…Read More »
Increased Borrowing Capacity to Provide Flexibility for Anticipated Growth
San Diego --(BUSINESS WIRE)-- Tandem Diabetes Care®, Inc. (NASDAQ: TNDM) today announced the amendment of its term loan facility with Capital Royalty Partners II, L.P. and its affiliate funds ("CRG"), which will provide the Company access to $50 million in addition to the $30 million borrowed from CRG in January 2013. Under the terms of the amended agreement, Tandem is required to draw $15 million in January 2016 and has a one-time option to access up to an additional $35 million on or before December 31, 2016. The…Read More »
Redmond, Washington. – EndoGastric Solutions® (EGS), a leader in incisionless procedural therapy for gastroesophageal reflux disease (GERD), announced today that it has secured additional new financing of up to $50.0 million, led by CRG (formerly Capital Royalty L.P.) and existing EGS investors including Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, Foundation Medical Partners, and Radius Ventures.
“EGS has demonstrated that the strong data and dramatic shifts in healthcare economics support increased access to their proprietary TIF® procedure using EsophyX® technology,” said Charles Tate, Chairman of CRG. “Our investment in their business will support growth and build substantial value in…Read More »
CRG Joins Existing Investors In New Financing Deal In Support Of Commercialization Plans
Redmond, Washington. – EndoGastric Solutions® (EGS), a leader in incisionless procedural therapy for gastroesophageal reflux disease (GERD), announced today that it has secured additional new financing of up to $50.0 million, led by CRG (formerly Capital Royalty L.P.) and existing EGS investors including Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, Foundation Medical Partners, and Radius Ventures.
“EGS has demonstrated that the strong data and dramatic shifts in healthcare economics support increased access to their proprietary TIF® procedure using EsophyX® technology,” said Charles Tate, Chairman of…Read More »
Financing to Support Commercialization of First-in-Class Products for TransCarotid Artery Revascularization (TCAR) Procedure
Sunnyvale, Calif., Oct. 20, 2015 /PRNewswire/ -- Silk Road Medical, Inc., a company dedicated to alleviating the devastating burden of stroke through surgical innovation, today announced it has received up to $57 million in equity and debt funding from new and existing investors. CRG, a premier healthcare investment firm and a new investor in Silk Road Medical, led the debt financing and also participated as an equity investor alongside returning investors Warburg Pincus and The Vertical Group.
Silk Road Medical's ENROUTE® Transcarotid Neuroprotection System (NPS) and ENROUTE® Transcarotid Stent System…Read More »
HOUSTON, TX, October 19, 2015 – CRG, a healthcare-focused investment firm delivering pioneering growth capital solutions to the global healthcare market, announced today that Scott Li has joined the firm as a Principal in CRG’s New York office.
Mr. Li brings over a decade of healthcare industry financing experience, having served as an advisor, investor and executive to a range of healthcare products, technology and services businesses. Most recently, Mr. Li was a Vice President with Hammond Hanlon Camp LLC (“H2C”), where he advised on M&A engagements for healthcare services clients.
Prior to joining H2C, Mr. Li was…Read More »
San Diego, September 28, 2015 – GenomeDx Biosciences announced today that it has secured expansion financing from CRG, a premier healthcare investment firm, in the form of a senior secured term loan.
“We are pleased to have the support of CRG, an investment partner renowned for its strategic investments in healthcare,” said Doug Dolginow, CEO of GenomeDx. “This financing provides us with the opportunity to further our strategic growth initiatives and enables further commercial expansion of our Decipher® franchise of genomic solutions.”
“We believe that GenomeDx’s application of genomics to solving clinical challenges in oncology is second-to-none,” said…Read More »
-- Financing to Support Commercial Launch of Pantheris™ --
Redwood City, California, September 23, 2015 – Avinger, Inc., (NASDAQ: AVGR) a developer and manufacturer of image-guided, catheter-based systems for the treatment of peripheral arterial disease (PAD) and pioneer of the lumivascular approach to treating vascular disease, announced today that it has entered into a term loan agreement and a securities purchase agreement with CRG (formerly Capital Royalty L.P.). The agreements provide Avinger with new financing of up to $55.0 million.
Under the terms of the term loan agreement, Avinger initially borrowed $30.0 million, which requires…
Provides up to $30 Million in Additional Borrowing Capacity
Santa Rosa, Calif., Aug. 4, 2015 (GLOBE NEWSWIRE) -- TriVascular Technologies, Inc. (NASDAQ:TRIV), manufacturer of the Ovation Prime® Abdominal Stent Graft System, and Capital Royalty Partners II L.P. and its affiliate funds (CRG) announced that they have amended the existing term loan agreement under which TriVascular previously borrowed $50 million.
The transaction primarily amends the terms of the existing term loan agreement with CRG to increase the borrowing amount up to $95.0 million, net of financing fees. The Company continues to have the option to access up to $15.0…Read More »
Cleveland, June 30, 2015 — ViewRay™, makers of MRIdian™, the world’s first and only clinical MRI-guided radiation therapy system, announced today that the company has secured up to $50 million in debt financing from CRG (formerly Capital Royalty L.P.), a premier healthcare investment firm.
This debt is part of ViewRay’s comprehensive financing strategy to optimize its capital structure and to provide the funding for driving its global expansion. Through the transaction with CRG, ViewRay will initially access $30 million of debt, which is interest only for three…Read More »
Financing To Support Commercial Launch and Ongoing Clinical Trials for Expanded Indications
San Jose, Calif. – June 9, 2015 – Outset Medical, a company focused on reimagining the experience of dialysis care for patients with kidney disease, today announced $91 million in equity and debt funding. New investor Fidelity Research and Management Company led the $51 million equity financing, with participation from existing investors Warburg Pincus and The Vertical Group, as well as new investors Partner Fund Management LP, Perceptive Advisors and CRG. In addition, CRG led a $40 million debt financing.
Outset Medical’s Tablo™ System is…Read More »
Specialty Australasian pharmaceutical sales and development company, AFT Pharmaceuticals Ltd (AFT), has finalised a follow-on equity capital raise with CRG (formerly Capital Royalty L.P.), Atkinson family, AFT board members, and a group of specialist pharma investors from the United States.
The details of the financing are as follows:
An additional US$7.5M in equity has been invested in AFT.
AFT’s founders, Atkinson Family interests, will retain almost 87% ownership of the company going forward. CRG will increase its existing shareholding to almost 9%.
Additional investment from the AFT board and specialist USA based pharmaceutical experts rounded out…Read More »
MENLO PARK, Calif., May 7, 2015 -- Ceterix Orthopaedics today announced that it has entered into a term loan agreement with CRG and certain of its affiliate funds, providing Ceterix with up to $35 million of available borrowing capacity.
"We are excited to have further support to continue our mission to save the meniscus and improve the lives of patients suffering from knee injuries," said John McCutcheon, President and CEO of Ceterix Orthopaedics. "This flexible financing will allow us to continue expanding the possibilities of meniscus repair through additional investment in innovation and clinical research."
Read More »
San Diego, March 5, 2015 -- TearLab Corporation (Nasdaq:TEAR) (TSX:TLB) ("TearLab" or the "Company") today announced that it has entered into a term loan agreement (the "Agreement") with CRG and certain of its affiliate funds. The Agreement provides TearLab with up to $35 million of available borrowing capacity.
Under the terms of the Agreement, CRG will initially provide $15 million. Up to $20 million of additional funding will be available to TearLab, at its option, through September 2016, subject to the satisfaction of certain revenue milestones and other borrowing conditions. The Agreement has a term of six years and…Read More »
HOUSTON, TX, January 9, 2015 – Capital Royalty L.P. announced today a corporate name change and rebranding of its firm to “CR Group” or “CRG.” The new name is intended to honor Capital Royalty’s heritage and reputation earned over the past decade while more accurately reflecting the growth and expansion of its business to encompass a broad range of structured debt and equity growth capital solutions to emerging healthcare companies.
“Our firm has experienced dramatic growth and investing momentum over the past five…Read More »
Menlo Park, Calif., December 15, 2014 – Nevro Corp. (NYSE:NVRO), a medical device company that has developed and commercialized an innovative, evidence-based neuromodulation platform for the treatment of chronic pain, is announcing that it completed its first draw down under the previously announced term loan facility with CRG LP (formerly known as Capital Royalty) and its affiliate funds ("CRG") for proceeds of $20 million before closing fees. The term loan facility gives the Company access to borrow up to $50 million, inclusive of the initial draw of $20 million.
About Nevro Corp.
Read More »
Headquartered in Menlo…
MENLO PARK, Calif., December 4, 2014 -- Corium International, Inc. (Nasdaq:CORI), a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, today announced that it has closed an expanded term loan facility with CRG and certain of its affiliate funds. The revised Term Loan Agreement provides an additional $10 million to the Company from CRG, which increases the aggregate principal loan amount to $45 million from the $35 million of outstanding principal provided for under the original agreement in July 2012. This revised term loan extends the maturity date of all debt to CRG from June…Read More »
Santa Rosa, CA, November 10, 2014 – TriVascular Technologies, Inc. (Nasdaq: TRIV) and CRG LP (formerly known as Capital Royalty) and its affiliate funds (“CRG”) today announced that they have amended and restated the term loan facility under which TriVascular previously borrowed $40 million in October 2012. In connection with this amendment, the company will increase its borrowings under the facility by $10 million upon closing of the transaction, which is anticipated to be completed by the end of the month, subject to customary closing conditions. Additionally, subject to the achievement of certain revenue milestones, TriVascular will have an option to…Read More »
MINNEAPOLIS – October 30, 2014 - Blue Belt Technologies, Inc. and CR Group (“CRG”) announced that they have closed a senior secured term loan for up to $40 million of capital. Blue Belt Technologies is an orthopedic surgical technology company with a focus on commercializing the next generation of robotic-assisted surgical tools. The company’s flagship product, the Navio® Surgical System, received CE Mark and FDA 510(k) clearance in 2012 and has been commercial in the U.S. since February, 2013. The Navio system provides robotic-assistance for partial knee replacement procedures through proprietary CT-free navigation software and a unique hand held computer controlled…Read More »
San Diego – October 9, 2014 – Astute Medical, Inc. and CRG today announced that Astute recently achieved a milestone under the terms of its existing term loan agreement with CRG. Under the term loan agreement, CRG will provide up to $30 million to support the commercialization of the NEPHROCHECK® Test System. An additional $10 million will become available to Astute upon the achievement of certain revenue milestones. Last month, Astute announced receipt of 510(k) clearance for the NEPHROCHECK® Test System from the United States Food and Drug Administration (FDA). The NEPHROCHECK® Test System is the first test for risk…Read More »
May 19, 2014 – Innovative Australasian pharmaceutical sales and development company, AFT Pharmaceuticals Ltd (AFT), has finalised an equity and structured debt funding package with Capital Royalty Partners (Houston, Boulder, New York) and equity funding with New Zealand-based Milford Asset Management (Auckland) though the Milford Active Growth Fund.
Capital Royalty and the Milford Active Growth Fund have collectively invested US$14M in equity in AFT, with Capital Royalty providing additional long-term capital of up to US$30M from a structured loan facility. AFT’s founders and only shareholders to date, Atkinson Family interests, will retain almost 90% ownership of the…
San Diego, CA – April 9, 2014 – Tandem Diabetes Care®, Inc. (NASDAQ: TNDM) and Capital Royalty Partners II, L.P. and its affiliate funds (“Capital Royalty”) today announced that they have amended and restated the term loan facility under which the Company borrowed $30 million in January 2013. This amendment extends the maturity date under the Company’s term loan facility from December 31, 2017 to March 31, 2020. Under the terms of the restated agreement, the interest rate was reduced from 14.0 percent to 11.5 percent, and the interest only payment period was extended through March 31, 2018. In addition,…Read More »
Seattle, Washington – April 3, 2014 – NanoString Technologies, Inc. (NASDAQ: NSTG), a provider of life science tools for translational research and molecular diagnostic products, today announced that it has entered into a term loan agreement with Capital Royalty L.P. and certain of its affiliates. The agreement provides NanoString with up to $45 million of available borrowing capacity.
"Together with the capital we have raised through recent equity offerings, the agreement with Capital Royalty provides the funding we need to continue to pursue our business plan aggressively," stated Brad Gray, Chief Executive Officer of NanoString. “The optional…
BOULDER, Colorado – February 12, 2014 – Biodesix Inc., a fully integrated molecular diagnostic company dedicated to personalizing medicine, today announced that the company closed a structured debt financing with Capital Royalty Partners L.P. The transaction provides Biodesix® with up to $20 million of capital.
“Capital Royalty’s financing structure has been uniquely tailored to suit our capital needs, especially during this growth phase of our company,” said David Brunel, Chief Executive Officer of Biodesix. “Their breadth of experience in the healthcare industry and deep knowledge of our business has convinced us that they are the right partner…
Hayward, Calif., Nov. 18, 2013 -- Solta Medical, Inc. (NASDAQ: SLTM), a global leader in the medical aesthetics market, today announced that it has closed a structured debt financing with Capital Royalty Partners L.P. The transaction provides Solta with $40 million for working capital.
"With the completion of this secured debt agreement, we have the necessary working capital to aggressively pursue our plans for 2014 to regain momentum and revenue growth," said Mark Sieczkarek, Interim CEO of Solta Medical. "New sales leadership in North America and Europe, combined with significant changes in our sales and marketing approach, are already generating…Read More »
Albuquerque, New Mexico – November 4, 2013 – Exagen Diagnostics, Inc. and Capital Royalty Partners II, L.P. announced that they have closed a senior secured loan for up to $25 million of capital. Exagen’s lead test, Avise SLE+ Connective Tissue, rules in-or-out Systemic Lupus Erythematosus (SLE) and assists with differential diagnosis of other common Connective Tissue Disease (CTD). Exagen intends to use proceeds to grow its US sales force to 25-30 representatives to fuel continued strong revenue growth in SLE+ and pipeline of rheumatology tests.
“Capital Royalty has shown to be the right partner for us and we are extremely excited…Read More »
Financing Proceeds to Accelerate Growth and Market Expansion in Leading Digital PCR and Next-Gen Sequencing Products
Billerica, Mass – September 23, 2013 – RainDance Technologies, Inc., an innovative genomics tools company enabling ultra-sensitive detection of cancer and inherited diseases, today announced it has closed a structured debt financing with Capital Royalty Partners L.P. The transaction provides RainDance with up to $35 million to support commercial expansion of the company’s leading Digital PCR and Next-Generation Targeted DNA Sequencing products. This financing builds on RainDance’s $20 million Series E equity financing announced in April 2013. Armentum Partners acted as financial advisors…Read More »
Valeritas Expanding V-Go US Commercial Operations
Bridgewater, N.J., June 4, 2013 (PR NEWSWIRE) – Valeritas, makers of the V-Go® insulin delivery device, today announced that they have closed a structured debt financing with Capital Royalty L.P. which provides Valeritas with up to $100 million to further support the commercialization of the V-Go.
"We are pleased to have Capital Royalty as a financial partner," said Kristine Peterson, Valeritas Chief Executive Officer. "This financing gives us further flexibility to expand our US commercial efforts for V-Go and bring this innovative treatment approach to many more patients with Type 2 diabetes."
… Read More »
CAMBRIDGE, Massachusetts, May 8, 2013 - Good Start Genetics®, Inc., an innovative molecular diagnostics company that has developed the new gold standard in carrier screening, today announced that it has closed a non-dilutive loan facility for up to $28 million of capital from Capital Royalty L.P. Good Start Genetics will use the proceeds to support its long-term corporate growth initiatives for the company’s next-generation sequencing (NGS) based carrier screening platform.
“Our investment in Good Start Genetics is consistent with our focus on providing flexible financing solutions for innovative companies with commercial technologies,” said Charles Tate, Chairman and Founder of Capital Royalty…Read More »
Total Investable Capital Expected to Exceed $1 Billion Including Debt Financing
HOUSTON, TX May 2, 2013 -- Capital Royalty L.P., a pioneer in healthcare investing, today announced the final closing of Capital Royalty Partners II L.P. with $805 million in equity commitments.
Capital Royalty Partners II, the Firm’s second private equity fund, was oversubscribed and exceeded its initial fund raising target. Total investable capital is expected to exceed $1 billion including debt financing facilities available to the Fund. The Fund’s global investor base consists of world-class limited partners, including pension funds, endowments, institutional investors, funds of funds, family…Read More »
Santa Rosa, CA, February 5, 2013 – TriVascular, Inc. (“TriVascular” or the “Company”) and Capital Royalty Partners II, L.P. (“Capital Royalty”) announced that they have closed a term loan facility. The financing represents Capital Royalty Fund II’s largest commitment to date.
TriVascular is a privately-owned medical device company focused on developing novel endovascular aortic repair (EVAR) stent graft systems for the treatment of aortic aneurysms. The Company received FDA approval of the Ovation and Ovation Prime Abdominal Stent Graft Systems during the fourth quarter of 2012 for the treatment of abdominal aortic aneurysms. Ovation and Ovation Prime combine the smallest…Read More »
San Diego, January 23, 2013 –Tandem Diabetes Care®, Inc. (“Tandem” or the “Company”) and Capital Royalty Partners II, L.P. (“Capital Royalty”) today announced that they have closed a term loan facility that provided Tandem with $30 million, and up to an additional $15 million based on certain revenue milestones.
Tandem is a privately-owned medical device company that focuses on advancing the management of diabetes through novel technologies. The Company announced FDA clearance for its lead product, the t:slim® Insulin Pump, in November 2011 and began shipping to customers on August 31, 2012. The t:slim Pump has a vivid color touch…Read More »
Menlo Park, CA, December 4, 2012 – Corium International, Inc. (“Corium”) and Capital Royalty Partners II, L.P. (“Capital Royalty”) announced that they have closed a term loan facility for up to $35 million of capital. Corium is a privately-held transdermal drug delivery company with a strong track record of successful development and manufacture of advanced pharmaceutical products. Corium intends to use the proceeds to refinance its outstanding debt, support corporate growth initiatives, and execute on its strategic plan.
“We are excited to have the support of Capital Royalty through their strategic investment and we are extremely pleased with our…Read More »
-- Highly-customized financing provides $20 million in growth capital to innovative life sciences company --
Houston, TX – May 1, 2012 – Effective April 10, 2012, Capital Royalty Partners II, L.P. and its parallel investment vehicles (“Capital Royalty”) entered into a $20 million term loan and revenue interest financing agreement with Bioniche Life Sciences Inc. (“Bioniche”) (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company (“Bioniche”).
Under the terms of the agreement, Capital Royalty provided Bioniche a five-year $20 million loan, with proceeds from the financing intended to support corporate growth initiatives across Bioniche’s three primary business…Read More »
Houston, TX - November 17, 2010 – Capital Royalty L.P. (“Capital Royalty”) announced today that it has established a Strategic Advisory Committee (“SAC”) comprised of world-class leaders with extensive experience in building global biopharmaceutical companies, managing large scale research and development initiatives, and developing national healthcare policies. Capital Royalty’s SAC was created to support the firm’s investment team in identifying emerging industry trends, broadening industry relationships around the globe, and evaluating new investment opportunities.
Sidney Taurel, a Senior Advisor at Capital Royalty, is Chairman of the SAC and responsible for leading and directing the activities of the SAC. Mr. Taurel is joined…Read More »
Houston, TX - May 20, 2010 – Capital Royalty L.P. (“Capital Royalty”) announced today that Mike Weinmann has been promoted to Managing Director. Mr. Weinmann leads Capital Royalty’s New York office, where his responsibilities include identifying, structuring, and leading due diligence on royalty monetization transactions. Mr. Weinmann is also a member of the firm’s Investment Committee.
“Mike has been an invaluable asset to Capital Royalty since joining the Firm as a Principal in March of 2009. Mr. Weinmann’s commanding knowledge of the royalty space, intimate involvement in the creation of the royalty bond product, and extensive industry relationships have…Read More »
Houston, TX - March 22, 2010 – Capital Royalty L.P. (“Capital Royalty”) announced today that it continues to expand and strengthen its royalty investment team with three new appointments – Andrei Dorenbaum as General Counsel and Executive Director, Peter Faroni as Associate, and James Tate as Analyst. Mr. Dorenbaum will operate out of the Firm’s Houston headquarters, while Messrs. Faroni and Tate will join Mike Weinmann in the Firm’s New York office.
As Capital Royalty’s General Counsel and Executive Director, Mr. Dorenbaum brings over fifteen years of legal and transaction experience, most recently as Assistant General Counsel at Highland…Read More »
-- Former Eli Lilly & Co. CEO and Chariman Brings Global Healthcare Industry Perspective, Experience and Relationships to Capital Royalty's Healthcare Financing Team --
Houston, TX - March 2, 2010 – Capital Royalty L.P. (“Capital Royalty”) announced today that effective immediately, Sidney Taurel, a recognized global pharmaceutical veteran and innovator, has joined the firm as a Senior Advisor. Mr. Taurel also will Chair Capital Royalty’s newly-established Strategic Advisory Committee (“SAC”).
Mr. Taurel brings a lifetime career of pharmaceutical industry experience and leadership, including 37 years at Eli Lilly and Co. where he served successively as President of Lilly…Read More »
Houston, TX - March 6, 2009 – Capital Royalty L.P. (“Capital Royalty”) announced today that Mike Weinmann and Luke Düster have joined Capital Royalty as Principals of the Firm, significantly enhancing its royalty bond financing and business development capabilities. In conjunction with Mr. Weinmann’s appointment, Capital Royalty will open a New York, New York office to be led by Mr. Weinmann. Mr. Düster joins Nate Hukill in managing the Firm’s recently-opened Boulder, Colorado office.
Mr. Weinmann brings a decade of capital markets experience and is responsible for $35 billion in completed financing transactions, including $3.3 billion in pharmaceutical royalty…Read More »
Houston, TX - January 22, 2009 – Capital Royalty L.P. (“Capital Royalty”) announced today that Nathan D. Hukill, a recognized pioneer in royalty bond financing, has joined the firm as a Managing Director effective (date). In conjunction with his appointment, Mr. Hukill will oversee the opening and management of Capital Royalty’s new office in Boulder, Colorado in an effort to better source and serve Western biopharmaceutical hubs.
Mr. Hukill brings over a decade of investing and structuring experience to Capital Royalty, most recently as a Portfolio Manager at Highland Capital Management, L.P, a registered investment advisor with over $20…Read More »