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Alder enters into $250mm committed equity financing with Redmile

Executive Summary

Alder BioPharmaceuticals Inc. (antibodies for migraine) entered into a $250mm committed equity financing with institutional and accredited investors affiliated with/managed by investor Redmile Group LLC. The terms include an initial $100mm purchase of Class A preferred stock (725.3k preferred shares at $137.88 per share;each preferred share is convertible into 10 common shares), with the remainder available during the three year agreement term. The company plans to use the funds to make required payments under its patent settlement litigation with Teva for eptinezumab.
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
    • Synthesis Technologies, Production Processes
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Other
    • Private Placement

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