Troutman Pepper represented Trevena, a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, in negotiating an ex-US royalty-based financing agreement with an affiliate of R-Bridge Healthcare Fund. The first $15 million tranche of the $40 million agreement was received in April 2022. Read Trevena’s press release about the agreement.

The financing agreement calls for an initial $15 million tranche within 15 days of the closing of the deal. Trevena has one approved product in the United States, OLINVYK® injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The company will receive an additional $15 million upon the first commercial sale of OLINVYK® in China and $10 million upon achievement of either a financing or commercial milestone.

The cross-office Troutman Pepper team advising Trevena in the financing included Chuck Charpentier, Brian Katz, Joan Arnold, Thomas Phelan, Sean McConnell, Alexa Ciganer, and Cody Mathis.