Amryt Pharma lands €20m loan to fund skin disorder drug

Irish-listed speciality drug firm Amryt Pharma has agreed a €20m loan facility from the European Investment Bank, which will provide it with near- and mid-term funding requirements for its lead product, Episalvan.

The funding will be split into three tranches and has a five-year term from drawdown, at an interest rate of 3%. It will fund the further near-term development of Episalvan, which is being positioned as a world-leading treatment for rare skin disorder epidermolysis bullosa.

It will also fund Amryt’s AP102 compound, which has received orphan drug designation in the US. It has the potential to treat patients with acromegaly which is a rare disorder resulting in abnormal body growth due to the production of excessive growth hormone.