Corium, a commercial-stage biopharmaceutical company leading the development and commercialization of novel central nervous system (CNS) therapies, closed on a $235 million term loan agreement with Hercules Capital. Corium will receive an initial tranche of $100 million, and the remaining funds will be available in three additional tranches upon the achievement of certain pre-defined milestones.

"This financing will provide funds to support continued U.S. commercialization of AZSTARYS which is now available for the treatment of ADHD for patients 6 years of age and over that was approved by the FDA in March of this year, and the advancement of our pipeline, including our investigational treatment for Alzheimer's," says Perry J. Sternberg, President and CEO of Corium. "I am extremely proud of Hercules' confidence in Corium and its belief in our growth potential."

"Hercules is pleased to enter into a strategic relationship with Corium at this pivotal time in its evolution" says Michael Dutra, Managing Director at Hercules Capital. "With an approved product now available that can help address unmet medical needs, other potentially promising drugs in development, and a successful contract development and manufacturing operation business, Corium is executing on its mission to provide clinicians with important new treatment options. This substantial capital commitment from Hercules aims to help Corium turn innovative technology into important commercial products and reflects our dedication to provide customized financing solutions to growth-stage life science companies."

J. Wood Capital Advisors LLC was the exclusive advisor to Corium in the financing transaction.