Paul Capital puts money on Plethora's male health franchise:
This article was originally published in Clinica
Plethora Solutions is to gain up to $28m in new capital under the terms of a revenue interest financing agreement with the healthcare investment arm of Paul Capital Partners. The funds will be used as working capital to underwrite ongoing phase III clinical programmes in premature ejaculation and erectile dysfunction, as well as to strengthen Plethora's balance sheet, said the London-based company. Plethora will receive $15m on signing of the agreement and a further $10m on the first US sales of Plethora's premature ejaculation product, PSD502. In return, Paul Capital will receive an interest in revenues generated by sales of Plethora's male health products, namely the PSD502 and its erectile dysfunction products PSD503 (still in development stage) and ErecAid, which is marketed by its subsidiary, Timm Medical. The agreement also includes an option for Paul Capital to make an additional $3m equity investment. Plethora's portfolio also includes products for women's health - these are not covered in the agreement.