The Applicant was incorporated in September 2019 and is a wholly owned subsidiary of the Operating Company. which is in turn wholly owned subsidiary of the Parent Company.
The Parent Company was founded in 2005 by a former practicing pharmacist, experienced patent attorney and a successful executive in the generic pharma industry. The Parent Company started as an R & D company developing products and partnering with some of today’s leading manufacturers of injectable medicines.
The Parent Company has been and continues to be successful in developing patent-not-infringing products, filing for ANDA or 505(b)(2) applications with the Federal Drug Administration for difficult to manufacture injectables and receiving FDA approval for commercialization of these drugs. Presently, there are (28) FDA approved products in the US market, (3) in the Canadian market and (1) in the Australian market. Currently, there are 12 injectable products under the Parent Company Label.
The Applicant owns the FDA certified clean room manufacturing facility to accommodate its projected growth. The Applicant will lease the equipment to the Operating Company.
Presently, (15) applications have been filed with The FDA and another (19) applications are ready for filing within the very near future. This will increase the Parent Company label products in the market to more than (50) by 2021.
| Loan ID | 0122 |
| DSCR | 1.24 |
| LTV | 58.8 |
| Note Rate | 5.25 |
| Property Location | NC |
| NAICS | 325412 |
| Guaranty Type | USDA B&I 70% |
| Loan Term | 13 yrs |
| Rate type | Var |
| Note date | 11/18/2020 |
| Maturity date | 18/11/2033 |
| Participation Availability Amount | $0 |
| Minimum Participation Amount | $250,000 |
| Original Loan Amount | $10,000,000 |
| Full Loan Documentation | Link |
| Inquire | Inquire |