Chesterbrook-Based Biopharmaceutical Company on Track for Massive Windfall

By

Carrie Bourdow
Image via Trevena.
Carrie Bourdow, CEO of Trevena.

Trevena, a biopharmaceutical company based in Chesterbrook, has entered into a royalty-based financing deal with an affiliate of R-Bridge Healthcare Fund that could lead to a collection of $40 million, writes John George for the Philadelphia Business Journal

As a result, Trevena’s stock was up nearly 30 percent late last week.

Trevena will receive $15 million up front and another $15 million after the first commercial sale of its acute pain drug, Olinvyk, in China. The company will receive $10 million more in the event of a commercial or financial milestone. 

The FDA-approved medicine meant to treat acute pain that is severe enough to require an intravenous opioid analgesic, and it may have fewer side effects than traditional opioids.

“This transaction strengthens our financial position and is also a creative and efficient way to unlock immediate value for an important asset,” said Carrie Bourdow, CEO of Trevena. 

Trevena is also working on new drugs for diabetic pain, migraine headaches, and opioid use disorders. 

Read more about Trevena in the Philadelphia Business Journal. 

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