Highland Therapeutics closes $50 million in financing, led by Eastern Capital Limited

Toronto-based Highland Therapeutics, a specialty pharmaceutical company, has announced it’s closed $50 million (USD) in funding, which consists of $25 million of Class A common Shares and a $25 million credit that was provided by Citibank. The equity round was led by Cayman Islands-based Eastern Capital Limited.

The investment will assist Highland to provide further develop its products, secure
dedicated manufacturing capacity to ensure certainty of commercial supply, and build out its sales & marketing team in the United States.

David Lickrish, Highland’s President and CEO, said, “We are delighted to have Eastern Capital as a committed partner and long-term strategic investor in Highland Therapeutics. This financing is a testament to the many clinical accomplishments achieved to date, and enables the Company to pivot from a pure R&D organization to a scalable pharmaceutical company focused on the highest value components of our business.”

Mark VanDevelde, Director of Eastern Capital commented that, “The partnership between Highland Therapeutics and Eastern Capital provides a unique opportunity to bring long-term, private equity capital and visionary operating leadership together for the benefit of patients, parents and physicians. Eastern Capital is delighted to support emerging biopharmaceutical companies both around the world and at home here in the Cayman Islands.”

Ian Hardy

Ian Hardy

Ian is publisher at MobileSyrup. He's been quietly creating and building things for years and is completely addicted to Tim Hortons.