BRIEF—Funding deal with Moksha8

USA-headquartered Moksha8, a specialty pharmaceutical company focused on licensing and marketing innovative and established therapeutics in Latin America, today announced the closing of a strategic financing agreement for up to $125 million with Canada-based Knight Therapeutics.

Under the agreement, Knight will initially lend Moksha8 up to $25 million in working capital funding, of which $10 million will be issued at closing.

Knight may issue up to an additional US $100 million in funding for M&A and the acquisition of new licenses.

As a result of the deal, Knight has the right to appoint two observers to Moksha8's board.

"We view the board collaboration as a crucial part of the agreement," said Daniel Turner III, founder of Montreux Equity Partners, Moksha8's majority shareholder.

"Combining Moksha8's deep market and commercial knowledge with Knight's exceptional track record as a licensee and acquirer boosts Moksha8's capabilities to new levels," he added.