Nuvation Bio (NUVB) said Monday that it secured up to $250 million in non-dilutive financing deals with Sagard Healthcare Partners.
The biopharmaceutical company said the deals include a royalty interest financing, under which Sagard agreed to provide Nuvation Bio with an upfront $150 million cash payment in exchange for tiered royalties on taletrectinib's net sales in the US.
In addition, Sagard also committed to provide Nuvation Bio with a five-year, senior secured term loan of up to $100 million, according to the statement.
Shares of Nuvation Bio were up over 3% in recent trading.
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