Array BioPharma Inc.
Array BioPharma Receives $40 Million from Deerfield
Published in Physician Law Weekly, January 7th, 2009
Array BioPharma Inc. (NASDAQ:ARRY) announced that it has received its second draw of $40 million from Deerfield Management, a leading healthcare investment organization and one of Array’s largest shareholders. Deerfield committed $80 million to Array in May 2008 and provided the first $40 million draw to Array in June 2008. Together with existing capital, these funds are being use to advance Array’s seven wholly owned small molecule drug programs in development.
The $80 million interest-bearing loan is due in April 2014. Principal and unpaid interest may be prepaid in whole or in part at any time. Prepayment of principal and accrued compound interest may be made at the...
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Source: Physician Law Weekly (2009-01-07)
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