Akin Advises Pharmakon in $100 Million Debt Financing for Paratek Pharmaceuticals and Radius Health Combination
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(New York and Boston) – Akin advised Pharmakon Advisors, LP and its affiliated funds in a new $100 million investment to fund the completion of the combination of Paratek Pharmaceuticals, Inc. (Paratek) with Radius Health, Inc. (Radius Health). The investment by Pharmakon replaces a $50 million previous investment in Paratek, which was repaid entirely by the new financing. Radius Health and Paratek are backed by B-Flexion Life Sciences. The combined company is expected to generate revenue of around $1 billion this year.
Pharmakon provided debt financing together with funds managed by Blackstone Credit & Insurance, Sixth Street, Oaktree Capital Management, L.P., and Silver Point Capital, with Wilmington Trust, National Association, serving as administrative agent. B-Flexion Life Sciences is an investment manager that makes principal investments in operating businesses across biotech, therapeutics, diagnostics and physician practice management.
The Akin team was led by tax partner Geoffrey Secol and included fellow tax partner Stuart Leblang and finance partner Josh Peary.
For additional information on the transaction, please click here.
Akin is a leading international law firm with more than 1,000 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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