Esperion and Oberland Capital Announce $200 Million Financing Agreement for Bempedoic Acid Franchise

VCBeat (WeChat ID: vcbeat) learned from foreign media that on June 26, lipid management company Esperion and investment firm Oberland Capital Management LLC announced a $200 million financing agreement tied to the net revenues of bempedoic acid and bempedoic acid/ezetimibe.

Under the agreement, Oberland Capital prepaid $125 million, with an additional $25 million payable upon FDA approval of Esperion’s bempedoic acid product portfolio, and a further $50 million payable once Esperion commences manufacturing and commercial sales of the bempedoic acid products. Upon full repayment, Esperion will regain 100% of the revenue rights to the product portfolio.

Bempedoic acid and bempedoic acid/ezetimibe are reported to be cost-effective, convenient, once-daily oral medications for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C) levels. These patients require further LDL-C reduction despite receiving prior therapy.

Bempedoic acid is a novel drug developed by Esperion for lowering LDL-C. As a first-in-class ATP citrate lyase inhibitor, bempedoic acid reduces low-density lipoprotein cholesterol by upregulating LDL receptors. Similar to statins, bempedoic acid also lowers high-sensitivity C-reactive protein. Currently, Esperion has completed a Phase III study involving more than 4,000 patients, over 2,600 of whom received bempedoic acid. The study showed that LDL-C was reduced by 18% in patients taking moderate- or high-intensity statins, and by 28% in those not using statins.

In contrast, the non-statin combination of bempedoic acid and ezetimibe lowers LDL-C through complementary mechanisms that inhibit cholesterol synthesis and absorption. Ezetimibe inhibits Niemann-Pick C1-Like 1 (NPC1L1), reducing cholesterol absorption from the gastrointestinal tract and thereby upregulating LDL receptors.

In the United States, over 37% of adults have elevated low-density lipoprotein cholesterol (LDL-C) levels. Approximately 18 million Americans suffer from atherosclerotic cardiovascular disease (ASCVD). More than 50% of patients with ASCVD fail to achieve their LDL-C reduction goals with statin monotherapy. Esperion states that, as a lipid management company, its mission is to provide once-daily oral therapies that complement existing oral medications, offering these patients a simple and convenient oral option for lowering LDL-C.

Esperion Chief Financial Officer Rick Bartram stated, “We are very pleased to partner with the team at Oberland Capital, given their extensive industry experience and expertise. This transaction provides Esperion with substantial cash resources and reflects the significant value of our late-stage bempedoic acid product portfolio.”

Andrew Rubinstein, Executive Partner at Oberland Capital, stated, “We are pleased to enter into this financing agreement with Esperion. As Esperion prepares to launch its bempedoic acid product line for lowering LDL-C, we look forward to helping the company achieve its goals.”

Esperion is a lipid management company dedicated to developing convenient and cost-effective oral medications for patients with elevated LDL-C. Leveraging scientific and clinical excellence, along with a profound understanding of cholesterol biology, Esperion’s experienced lipid management team is committed to developing novel LDL-C-lowering therapies that will have a significant impact on reducing cardiovascular disease worldwide.

Oberland Capital is a private investment firm. It focuses on investing in the global healthcare industry, tailoring its flexible investment structures to meet the specific capital requirements and strategic objectives of its transaction partners. Oberland Capital offers a broad range of financing solutions. Leveraging deep industry expertise and extensive experience in structured finance, the Oberland Capital team creates significant value for its transaction partners. The company was founded in 2013 by Jean-Pierre Naegeli and Andrew Rubinstein.

(Compiled by Zhang Jing)