SAN FRANCISCO, March 18, 2020 (GLOBE NEWSWIRE) -- Business Capital structured and delivered an $8M secured asset based credit facility for Nivagen Pharmaceuticals, a specialty company that develops and sells generic prescription drugs for the North American market. Nivagen is focused on building a sustainable portfolio of therapeutics, which treat a wide variety of ailments, and has launched over 15 generic products which are sold through multiple channels that include well-known wholesalers, such as McKesson, Cardinal Health and Amerisource Bergen; and retailers, such as Walgreens, CVS and Rite Aid. The company is rapidly growing, with plans to introduce nine new drugs by the end of this year and two more in 2021. This financing facility will provide the necessary working capital to facilitate its growth as well as help fund certain development costs associated with introducing these new products into the pharmaceutical marketplace.
“Business Capital executed a disciplined process which resulted in multiple term sheets from prestigious banking institutions, putting us in a strong position to negotiate the best rates, terms and lending partner to support our company and growth,” said Jay Shukla, CEO and Founder of Nivagen Pharmaceuticals, Inc. “The BizCap team was experienced, professional and great to work with, leading us through the entire process to the best deal and fit for our firm and allowing us to focus on our business.”
Business Capital is a leading commercial finance & advisory firm specializing in securing customized non-dilutive credit based solutions for rapidly growing as well as challenged middle market companies nationwide who require a unique, timely and tailored financing structure to address their particular needs, especially when conventional sources of capital are not an option. BizCap ® is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.
Contact:
Business Capital
Chuck Doyle
415-989-0970
cdoyle@bizcap.com
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