Discovery Laboratories says that Deerfield Management Company will provide the company up to $30 million in the form of a secured loan facility. Discovery Labs will use the money for development and commercialization of its Surfaxin lucinactant for the prevention of respiratory distress syndrome (RDS) in infants and Aerosurf aerosolized surfactant for the treatment of RDS.
Deerfield Management Partner William Slattery commented, “We believe that Surfaxin and Aerosurf could represent meaningful improvements in the care of premature infants with respiratory distress syndrome. Our goal with this facility is to strengthen Discovery Labs’ financial position in a minimally dilutive way, and build a long-term relationship that helps advance these important programs for neonatal medicine.”
According to Discovery Labs, “Aerosurf is a drug-device product that consists of the entire technology system for the delivery of aerosolized surfactant to premature infants for RDS: KL4 Surfactant, Capillary Aerosol Generator, and a proprietary nCPAP compatible patient interface.”
Read the Discovery Labs press release.
