Valeo Pharma to partially repay Sagard term loan

By Wendy Van Sickle

Columbus, Ohio, Feb. 2 – Valeo Pharma Inc. plans to make a partial repayment of the secured term loan entered into with Sagard Healthcare Royalty Partners, LP in July 2022 with proceeds of a reimbursement of a residual portion of the upfront fee paid by Valeo when it entered into a commercialization and supply agreement with Novartis Pharmaceuticals Canada Inc., according to a news release.

Valeo will be required to make a repayment of C$10 million by Aug. 31. It will have the option to make an additional $5 million through that date, which amount is being held in a restricted cash account.

The pharmaceutical company forces on respiratory/allergy, ophthalmology and hospital specialty products. It is based in Montreal.

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