GPB Capital Holdings, LLC (GPB Capital) announced that it has made a debt investment in Emmaus Life Sciences, Inc. (Emmaus). Proceeds from the investment will help Emmaus commercially launch Endari™ (L-glutmamine oral powder), its prescription treatment for sickle cell disease (SCD), which was approved in 2017 by the Food and Drug Administration (FDA).

The investment is consistent with GPB Capital's ongoing strategy for debt investments. GPB Capital offers senior secured loans to small and medium-sized businesses. 

"We are glad to support Emmaus Life Sciences in this important phase of its commercialization of Endari," said Evan Myrianthopoulos, Managing Partner with GPB Capital responsible for the firm's Debt Strategies. "Given the strong clinical results demonstrated across Phase 2 and Phase 3 studies, we believe Endari will have a positive impact on SCD patients' lives. We look forward to helping bring this new treatment to market."

Torrance, Calif.-based Emmaus (http://www.emmauslifesciences.com) develops and commercializes treatments and therapies for rare and orphan diseases. Founded in 2000, Emmaus also conducts tissue-engineering research with the goal of generating healthy cells in a lab environment using a patient's own cells—which would eliminate the wait for tissue donors and reduce the risk of tissue rejection. Emmaus will use proceeds from GPB Capital's loan to expand its sales/marketing and research/development efforts associated with its commercial launch of Endari, as well as to refinance existing debt.

"We're proud to make Endari commercially available as the first new treatment for sickle cell disease in nearly two decades,"ii said Yutaka Niihara, MD, MPH, Chairman and CEO of Emmaus Life Sciences. "GPB Capital's investment will allow us to make Endari available to patients, helping to improve the lives of people living with this painful condition."

GPB Capital's debt investment in Emmaus consists of a $30 million senior secured convertible note with warrants, with $20 million in proceeds delivered upfront and the remaining $10 million to be released in two tranches during the second and third quarters of 2018, subject to Emmaus achieving set revenue targets.