SHINE Medical Technologies

In November 2018, Deerfield closed a $150 million financing commitment to SHINE Medical Technologies, Inc. SHINE is a development-stage company working towards becoming a manufacturer of select radioisotopes for diagnostic and therapeutic applications. The SHINE system uses a patented proprietary manufacturing process that offers potential major advantages over existing and proposed production technologies as it does not require a nuclear reactor, uses less electricity, generates less waste and is compatible with the nation’s existing supply chain for molybdenum-99 (Mo-99).The company obtained its construction permit from the Nuclear Regulatory Commission in February 2016. Deerfield’s commitment will finance the construction of the plant. The first product is targeted to be Mo-99, which is used in medical imaging, but the company will manufacture additional isotopes over time.

Press releases

Deerfield Management Company Announces a $125 million Term Sheet with SHINE Medical Technologies, Inc.
October 2014

Shine and Deerfield Close $150 Million Financing Commitment to Support Diagnostic and Therapeutic Medical Isotope Manufacturing
November 2018

ARS Pharmaceuticals, Inc.

In September 2018, Deerfield committed $20 million to ARS Pharmaceuticals, Inc. ARS is developing an intranasal epinephrine product. Currently, patients at risk of anaphylaxis due to food allergies, insect bites or other allergens carry epinephrine auto-injectors, commonly referred to as “EpiPens” based on the brand name of the leading product in the market. ARS is developing an alternative to the epinephrine auto-injector that uses proprietary formulation technology to deliver epinephrine via a nasal spray rather than injection.

In initial pharmacokinetic studies in healthy volunteers, ARS has shown that its nasal spray provides epinephrine blood levels that are similar to that achieved with epinephrine injection. The financing will be used to fund product development, and manufacturing scale-up as well as clinical development designed to support a filing for marketing authorization in the United States.

InCarda Therapeutics

InCarda Therapeutics is developing a drug/device combination for in-hospital and outpatient treatment of acute atrial fibrillation. By using the pulmonary circulation to deliver drugs to the heart, lower doses and faster cardioversion are likely to occur compared to oral and intravenous therapies. The initial target market will be the in-hospital setting where most patients with atrial fibrillation currently require electrical cardioversion, an invasive and costly procedure.

Arvinas, Inc.

In March 2018, Deerfield invested in Arvinas, LLC., a preclinical biotechnology company based on the science developed from the lab of Craig Crews, Ph.D., the Lewis B. Cullman Professor of Molecular, Cellular and Developmental Biology at Yale University. Arvinas is focused on developing a new class of drugs, small molecules called PROTACs, that are aimed at degrading disease-causing cellular proteins through proteolysis.

Sollis Therapeutics

In April 2018, Deerfield invested in Sollis Therapeutics. Sollis is developing a drug / device combination consisting of Polylactic acid + Clonidine for the treatment of sciatica. Current treatment options consist of opioids, NSAIDs, and epidural injections, each of which have minimal therapeutic benefit. The PLA + Clonidine combination results in controlled bioresorbability and distribution over a 52 week period, creating a longer term benefit.

MIVI Neuroscience

In August 2017, Deerfield invested in MIVI Neuroscience through a senior secured convertible note. MIVI Neuroscience is a clinical stage medical device company developing a unique blood clot retrieval technology which helps push a clot into a suction catheter and acts as a distal protection device to capture potential emboli.

Blade Therapeutics

Blade Therapeutics is developing cutting edge therapies to treat diverse fibrotic diseases for which there is currently no cure. The technology comes out of Johns Hopkins and is based on research from the laboratory of Hal Dietz, M.D., the Victor A. McKusick Professor of Genetics in the Institute of Genetic Medicine and the Johns Hopkins University School of Medicine.

KemPharm

KemPharm is a biopharmaceutical company focused on the discovery and development of new chemical entities (NCEs) for the treatment of pain, ADHD and other CNS diseases through its proprietary and broadly applicable Ligand Activated Therapy (LAT) approach. The company utilizes its LAT technology to generate improved prodrug versions of FDA approved drugs.

Xeris Pharmaceuticals

Deerfield invested in Xeris Pharmaceuticals through its Series C preferred financing. Xeris is developing a room temperature stable liquid formulation of glucagon that will be used in a range of products in the treatment of diabetics with hypoglycemia. The benefit of this liquid formulation is that it does not have to be refrigerated or reconstituted.

Hallux

Hallux, Inc. is a development stage pharmaceutical company based in Laguna Hills, CA. Deerfield led the $7.1 million Series A Preferred Equity to fund continued development of a novel pharmaceutical formulation of terbinafine to treat distal subungual onychomychosis, a common infection of the nail plate.