Aquestive secures $75 million funding from RTW for Anaphylm launch

Aquestive Therapeutics Inc. (NASDAQ: AQST) announced a $75 million strategic funding agreement with RTW Investments LP to support the potential commercial launch of Anaphylm, its epinephrine sublingual film for treating severe allergic reactions including anaphylaxis.

The funding will become available upon FDA approval of Anaphylm and satisfaction of certain refinancing and other customary conditions related to the company's existing debt. Under the agreement terms, RTW will receive a tiered single digit percentage of annual net sales of Anaphylm in the U.S. for treating type I allergic reactions, subject to a cap.

Anaphylm is a polymer matrix-based epinephrine prodrug that dissolves on contact without requiring water or swallowing. The product is designed as a postage stamp-sized film that weighs less than an ounce, with packaging thinner than a credit card that can withstand weather exposure.

"This financing provides critical capital that will support Aquestive Therapeutics through 2027, enabling us to successfully bring Anaphylm to market, if approved by the FDA," said Dan Barber, Chief Executive Officer of Aquestive.

The FDA has conditionally approved the Anaphylm trade name for AQST-109, with final approval of the proprietary name conditioned on FDA approval of the product candidate.

Cantor Fitzgerald & Co served as exclusive financial advisor to Aquestive on the royalty financing arrangement.

Warren, New Jersey-based Aquestive is a pharmaceutical company that develops orally administered products using delivery technologies. The company has four commercialized products marketed by licensees and is advancing Anaphylm as a late-stage product candidate.

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