Third Quarter 2022 Financial Results to be
Announced in Early November
DALLAS, Oct. 18,
2022 /PRNewswire/ -- SWK Holdings Corporation
(Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused
specialty finance company catering to small- and mid-sized
commercial-stage companies, today provided an update on the
progress and achievements of its borrower partners, including
recent transactions and activities.
"The second half of 2022 has been an active time for SWK. We
have capitalized on our strong underlying business fundamentals to
close several transactions, including two $25.0 million financings with Aziyo Biologics and
MedMinder," stated Jody Staggs, President and Interim CEO of
SWK. "These transactions, as well as a $7.5
million financing with Exeevo, demonstrate that SWK remains
a leader in the small and mid-sized life science finance
market. We expect additional transactions through the
remainder of 2022 and into 2023 as ongoing market volatility makes
our non-dilutive financial structures attractive to companies in
need of capital."
Mr. Staggs continued, "We are pleased our portfolio remains
healthy despite the challenging market conditions.
Additionally, during the quarter our Enteris BioPharma
subsidiary received a $5.0 million
clinical progression milestone payment from Cara Therapeutics with
SWK retaining $2.5 million.
Enteris has now received $33.0
million of payments from the Cara license."
Aziyo Biologics, Inc.
10, 2022, SWK provided $25.0
million credit facility to Aziyo Biologics, Inc. (Nasdaq:
AZYO), a commercial-stage regenerative medicine company.
On July 1, 2022,
SWK completed a $7.5 million
financing with Exeevo, a provider of modern technology for life
sciences organizations to revolutionize customer and patient
On August 30,
2022, SWK provided $25.0
million credit facility to MedMinder, a leading connected
pharmacy care solution for seniors and polypharmacy patients.
SWK Holdings Portfolio
4Web is a privately held medical device
company, based in Frisco, TX, which utilizes a proprietary
truss implant technology to develop and market spinal implants.
- In August 2022, 4Web announced
the launch of its Hammertoe Truss System™ (HTS), which utilizes an
advanced structural design that incorporates 4WEB Medical's
proprietary Truss Implant Technology™.
Acer Therapeutics (Nasdaq: ACER) is
focused on the acquisition, development, and commercialization of
therapies for serious rare and life-threatening diseases with
significant unmet medical needs.
- In October 2022, Acer announced
that the University of North Carolina
(UNC) Institute for Trauma Recovery was
awarded a $3 million grant from the
Department of Defense (DoD) to investigate the potential of
ACER-801 (osanetant) to reduce the frequency and severity of acute
stress disorder and post-traumatic stress disorder (PTSD).
- In July 2022, Acer announced the
submission of an Investigational New Drug (IND) application to the
U.S. Food and Drug Administration (FDA) to evaluate the efficacy
and safety of ACER-001 (sodium phenylbutyrate) for the potential
treatment of patients with Maple Syrup Urine Disease (MSUD).
- In July 2022, Acer announced the
FDA has accepted for review Acer's resubmitted New Drug Application
(NDA) for ACER-001 (sodium phenylbutyrate) for oral suspension for
the treatment of patients with urea cycle disorders (UCDs).
Biolase, Inc. (Nasdaq: BIOL) is a global
leader in dental lasers.
- In August 2022, Biolase reported
second quarter 2022 financial results, including total revenue of
$12.2 million, a 34% year over year
Biotricity, Inc. (Nasdaq: BTCY) is a
medical technology company delivering innovative, remote biometric
- In September 2022, Biotricity
announced that it plans to initiate an NIH-sponsored Phase 1 study
of Bioflux-AI, the company's innovative artificial
intelligence-driven system of real-time monitoring and prediction
technology, in subjects with chronic kidney disease.
Eton Pharmaceuticals, Inc.
(Nasdaq: ETON) is a specialty pharmaceutical company focused on
developing innovative products utilizing the FDA's 505(b)(2)
- In September 2022, Eton
Pharmaceuticals announced the acquisition of an FDA-approved rare
disease product, betaine anhydrous for oral solution.
- In July 2022, Eton announced the
FDA approval of ZONISADE™ (zonisamide oral suspension).
Ideal Implant, Inc.
Founded in 2006, the privately
held medical device company is focused on the aesthetics space,
specifically the development and sale of saline breast
- In April 2022, Ideal Implant
announced the launch of its Generation 2 implant.
2020, SWK paid $16.5 million
to acquire royalties payable to EyePoint Pharmaceuticals under its
license agreement with Alimera Sciences for ILUVIEN®, a
treatment for diabetic macular edema.
- In July and August 2022, Alimera
announced the approval of and/or reimbursement for ILUVIEN in
Italy, France, Portugal, and Ireland.
MolecuLight Inc. is a leader in
point-of-care fluorescence imaging for real-time detection of
wounds containing elevated bacterial loads.
- In September 2022, MolecuLight
announced it was awarded a new group purchasing agreement with
AllSpire Health GPO enabling The MolecuLight i:X® and DX™ wound
imaging devices to be available to AllSpire's members.
- In August 2022, MolecuLight
announced the completion of a financing with BDC and iGan Ventures.
The funds will support MolecuLight's continued global
About SWK Holdings Corporation
Corporation is a life science focused specialty finance company
partnering with small- and mid-sized commercial-stage healthcare
companies. SWK provides non-dilutive financing to fuel the
development and commercialization of lifesaving and life-enhancing
medical technologies and products. SWK's unique financing
structures provide flexible financing solutions at an attractive
cost of capital to create long-term value for all SWK stakeholders.
SWK's solutions include structured debt, traditional royalty
monetization, synthetic royalty transactions, and asset purchases
typically ranging in size from $5.0
million to $25.0 million.
Additional information on the life science finance market is
available on the Company's website at www.swkhold.com.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements including
words such as "believes," "expects," "anticipates," "intends,"
"estimates," "plan," "will," "may," "look forward," "intend,"
"guidance," "future" or similar expressions are forward-looking
statements. Because these statements reflect SWK's current views,
expectations and beliefs concerning future events, these
forward-looking statements involve risks and uncertainties.
Investors should note that many factors, as more fully described
under the caption "Risk Factors" and elsewhere in SWK's Form 10-K,
Form 10-Q and Form 8-K filings with the Securities and Exchange
Commission and as otherwise enumerated herein, could affect the
Company's future financial results and could cause actual results
to differ materially from those expressed in such forward-looking
statements. The forward-looking statements in this press release
are qualified by these risk factors. These are factors which,
individually or in the aggregate, could cause the Company's actual
results to differ materially from expected and historical results.
You should not place undue reliance on any forward-looking
statements, which speak only as of the date they are made. We
assume no obligation to publicly update any forward-looking
statements, whether as a result of new information, future
developments or otherwise.
SOURCE SWK Holdings Corporation