27 September 2022 - - US-based commercial finance and advisory firm BizCap has structured and secured USD 45m in financing for its repeat client, specialty pharmaceuticals company Nivagen Pharmaceuticals, the firm said.

Nivagen is engaged in the development, acquisition and sales of generic prescription drugs and over the counter products for the North American market.

The credit facility is comprised of a USD 20m revolving line of credit to facilitate working capital needs and a USD 25m term loan, the proceeds of which will be used to build out a 63,500 square foot sterile manufacturing R and D facility which will enable Nivagen to onshore its production capabilities.

By reshoring product manufacturing, Nivagen will streamline its supply chain while significantly reducing both manufacturing costs and time to market for new product launches, ultimately providing a benefit to consumers in the form of lower costs and increased availability of certain generic products.

Additionally, the new manufacturing facility will generate new revenue streams for Nivagen, including contract development and manufacturing services offered to third parties.

BizCap is a team of finance, credit and banking professionals emboldened by the belief that when businesses are at the center of its rigorous process, they get the best capital cost and structure.

Since 2002, BizCap has mapped the universe of debt capital providers and built trusted connections with their key stakeholders along the way.

BizCap's understanding of each lender's unique approach to risk and credit decisioning, along with its proven reputation, results in a faster, more certain path to deal completion for its clients.

BizCap is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.