Anthera Pharmaceuticals, a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, secured a new $20.0 million debt financing facility through a syndicate led by MidCap Financial. Anthera will use the loan proceeds to refinance the remaining principal of the loan agreement entered into with Hercules Technology Growth Capital, Inc. in 2011 and for general corporate purposes. MidCap Financial will receive warrants to purchase an aggregate of 588,235 shares of Anthera's common stock at an exercise price of $0.68.

"The favorable terms of the new debt financing facility, coupled with our January 2013 equity financing of approximately $43.0 million of net proceeds, provides the liquidity we need to deliver key milestones for 2013 and 2014," said Chris Lowe, Anthera's Chief Business Officer and Chief Financial Officer.

Additionally, Anthera has entered into an $18.5 million common stock purchase agreement with Lincoln Park Capital Fund, LLC ("LPC") a Chicago-based institutional investor. Upon executing the agreement, LPC made an initial purchase of $2 million in common stock from Anthera at a purchase price of $0.648 per share. Furthermore, for a period of two years, Anthera has the right to sell up to an additional $16.5 million of its common stock to LPC at prices that are generally determined by the Company. Anthera expects to use the proceeds from this transaction for servicing long-term debt and working capital.

MidCap Financial is a commercial finance company focused on middle market lending across the healthcare sector. MidCap specializes in $5 million to $200 million loans and since launching in 2008 has deployed over $1 billion in capital. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles.

LPC is an institutional investor headquartered in Chicago.