Santarus secures $75M equity financing

Santarus, a specialty US pharmaceutical company focused on therapies for gastrointestinal diseases and disorders, has entered into a committed equity financing facility with Kingsbridge Capital a private investment group, in which Kingsbridge has committed to provide up to $75.0 million of capital for three years through the purchase of newly-issued shares of Santarus' common stock. Under the terms of the agreement, Santarus will determine the exact timing and amount of any CEFF financings, subject to certain conditions. The CEFF allows Santarus to raise capital, at its discretion, to support its corporate activities.

In connection with the CEFF, Santarus has issued a warrant to Kingsbridge to purchase up to 365,000 shares at an exercise price of $8.28 per share, which represents a 30% premium over the average of the closing bid prices of Santarus' common stock during the five trading days preceding the deal.