Synergy Closes $300 Million Debt Financing

Palo Alto – September 12, 2017 – Cooley advised Synergy Pharmaceuticals on its $300 million debt financing structured as senior secured loans from CRG LP, a healthcare focused investment firm, and its lender syndicate. Cooley partner Glen Sato led the Cooley team advising Synergy.

“This non-dilutive financing enhances our cash position and provides us with financial flexibility to continue to execute on the launch of Trulance and achieve our business objectives, which we are confident will ultimately maximize long-term shareholder value,” said Gary Gemignani, EVP and chief financial officer of Synergy, in a news release.

Synergy is a biopharmaceutical company focused on the development and commercialization of novel GI therapies. The company has pioneered discovery, research and development efforts on analogs of uroguanylin, a naturally occurring and endogenous human GI peptide, for the treatment of GI diseases and disorders.

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