Halozyme Raises $150M In Debt Funding

San Diego-based biopharmaceuticals developer Halozyme Therapeutics said yesterday that it has raised $150M in royalty-backed, debt financing. The financing came from Pharmakon Advisors and Athyrium Capital Management. According to the company, the funding will go towards a Phase 3 cancer study in cancer patients. Halozyme said the non-dilutive financing is secured by future royalties of its ENHANZE products from Roche and Baxalta, and that the debt was issued at 8.75 percent plus the three-month LIBOR rate.