Highlights:
Santhera secures approximately CHF 20 million of additional funding from existing investors Highbridge and R-Bridge to accelerate global rollout
Demand for AGAMREE® (vamorolone) in US/China ahead of plan; increased inventory needs and launch timing shifts drive need for incremental growth capital
Pratteln, Switzerland, September 23, 2025, Santhera Pharmaceuticals (SIX: SANN) today announces new financing agreements with R-Bridge, an affiliate of CBC Group, and certain funds managed by Highbridge Capital Management, LLC ("Highbridge"), respectively.
Financing update
As outlined in today's results, Santhera continues to expand the global reach of AGAMREE® (vamorolone) for the treatment of Duchenne muscular dystrophy (DMD), with over 1000 patients treated worldwide. In China, partner Sperogenix Therapeutics Ltd. ("Sperogenix") is seeing increased demand expectations in 2025 and 2026 following their launch into the private-pay market. In the United States, partner Catalyst Pharmaceuticals, Inc. ("Catalyst") reported strong first-half 2025 performance with AGAMREE sales of USD 49.4 million, driven by accelerated physician adoption and sustained uptake. Demand across Europe continued to remain strong.
To meet this demand and support the acceleration of launches globally, particularly to bring forward its plans to increase inventory in China, Santhera has secured approximately CHF 20 million (subject to USD/CHF FX) in additional growth capital.
This CHF 20 million is comprised of USD 13 million from a royalty monetization with R-Bridge, on terms that preserve long-term value while providing near-term capital growth. In addition, Highbridge has strengthened its commitment with an additional CHF 10 million upsizing of its convertible bond, extending maturity and providing flexibility. Additional details are provided further down in the press release.
Dario Eklund, Chief Executive Officer of Santhera, said: "Demand for AGAMREE continues to exceed expectations across the US, Europe and China. With this additional funding, we can accelerate launches, build inventory, and pursue our trajectory towards cashflow break-even in 2026. We are pleased to continue our partnership with these high-quality investors as we enter the next stage of growth."
Financing details:
R-Bridge royalty monetization (USD 13 million)
Santhera has secured a royalty monetization with existing investor R-Bridge. Pursuant to this transaction, R-Bridge will receive ...
