ANN ARBOR—Esperion Therapeutics, developers of a novel class of cholesterol-reducing drugs, announced that an investor group led by New York City-based Oberland Capital Management LLC agreed to provide the third and final tranche of funding under the revenue-based funding agreement totaling $50 million.

The remaining funds are being released sooner than expected and in parallel with Esperion announcing an expansion of a commercial agreement with Daiichi Sankyo Group for distribution of its new cholesterol-lowering drugs in Asia, the Middle East, and potentially other nations outside of the United States, Europe and Japan.

“Today we have simultaneously made two announcements that both prove our ability to execute in ways that are financially advantageous for our company and our shareholders,” said Rick Bartram Esperion CFO. “Not only have we secured $80 million to bolster our balance sheet, but we did it through existing relationships, demonstrating steadfast confidence in our team, our business and the potential of our medicines. We are extremely proud to expand our relationships with these leading companies.”

The revenue-based funding agreement with Oberland Capital was announced in June of 2019. Esperion will reacquire 100 percent revenue rights upon repayment completion.

More at www.esperion.com.

Oberland Capital, a private investment firm with over $2.25 billion in capital commitments since inception, is focused exclusively on investing in the global healthcare industry and specializes in flexible investment structures customized to meet the specific capital requirements and strategic objectives of transaction partners. Oberland Capital’s financing services includes monetization of royalty streams, acquisition of future product revenues, creation of project-based financing structures, and investments in traditional debt and equity. More at www.oberlandcapital.com.