BRIEF—Calliditas restructures debt to support operations

Swedish biotech Calliditas Therapeutics (Nasdaq: CALT) has announced that it has refinanced its debt to the tune of $102 million, shortly after Tarpeyo (budesonide) was  approved in the USA, upgrading a prior nod under the Accelerated Approval scheme.

Following an agreement with Athyrium Capital Management, proceeds from the loan will be used for full repayment of an existing debt to Kreos Capital.

The firm has thereby extended the interest-only period on its debt by three years, at the same interest rate as the previous term loan.

Chief executive Renée Aguiar-Lucander said: “With the full FDA approval of Tarpeyo, the recent issuance of a Notice of Allowance of a second Tarpeyo patent and extension of debt repayment by three years, we believe that Calliditas is well positioned to continue to create value through direct commercialisation efforts in the USA as well as contributions from our licensees in other jurisdictions, complemented by a late-stage pipeline.”