Optinose, a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists, today announced that it has entered into a $100 million debt financing agreement with funds managed by Athyrium Capital Management, LP, a leading global healthcare-focused investment firm.

"This financing increases our financial flexibility as we prepare to launch XHANCE™," stated Chief Executive Officer, Peter Miller. "We are excited to partner with the Athyrium team as we remain focused on bringing XHANCE to market in the second quarter of this year.”

“We are thrilled to work with the leadership team at Optinose with this launch financing,” said Laurent D. Hermouet, Partner, Athyrium Capital Management. “XHANCE has the potential to improve the lives of millions of patients who are searching for new treatment options. We look forward to supporting the commercialization of XHANCE and other initiatives at Optinose.”

At closing of the agreement, $75 million in aggregate principal amount of the Senior Secured Notes were issued. An additional $25 million will be available to Optinose in 2019 subject to the achievement of a sales milestone and certain other conditions. The Senior Secured Notes mature in June 2023. Important information with respect to this debt financing agreement is set forth in a Form 8-K filed by the Company with the Securities and Exchange Commission on January 2, 2018.

Cantor Fitzgerald & Co. acted as lead financial advisor to Optinose in this transaction. Janney Montgomery Scott also provided financial advisory services. Hogan Lovells US LLP, Hogan Lovells International LLP and Aabø-Evensen & Co Advokatfirma AS served as legal advisors to Optinose. Covington & Burling LLP and Advokatfirmaet Thommessen AS served as legal advisors to Athyrium.