Vivus reports it plans to conduct a $110 million non-equity financing

Vivus will draw $50 million initially, another $60 million by year-end

By Devika Patel

Knoxville, Tenn., March 26 - Vivus, Inc. said it plans a $110 million non-equity financing with an investment fund managed by Pharmakon Advisors.

The company will make an initial draw of $50 million and will have the option to draw an additional $60 million before Dec. 31, 2013.

"This royalty financing provides Vivus with non-dilutive capital for continued commercialization of Qsymia and other corporate activities," senior vice president and chief financial officer Timothy E. Morris said in a press release. "The innovative financing arrangement has no equity component and is structured to allow maximum flexibility for Vivus."

Vivus, based in Mountain View, Calif., is a pharmaceutical company focused on treatments for obesity and sexual dysfunction.

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