Udenyca

Structured Credit$75 Million

Jan 2019

MarketerCoherus Biosciences

Coherus Biosciences (NASDAQ:CHRS) is a leading pure-play, global biosimilars company. Coherus has one biosimilar, Udenyca (pegfilgratim/neulasta) approved by both the FDA and the EMA, and is advancing two late-stage clinical products towards commercialization, CHS-0214 (etanercept/ Enbrel biosimilar) and CHS-1420 (adalimumab/ Humira biosimilar), which are currently in phase 3 or BLA-enabling trials.

Background

After the approval of Udenyca in November 2018, Coherus was seeking to raise non-dilutive capital to help bolster its balance sheet.  In January 2019, Coherus entered into a $75 million senior secured credit facility with HCR.  This non-dilutive financing will be used to help fund the launch of Coherus’ recently approved biosimilar, as well as to further development of its pipeline products.

Interview with Dennis Lanfear, President, CEO & Chairman, Coherus BioSciences

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