06:03 PM EDT, 07/17/2024 (MT Newswires) -- OPKO Health ( OPK ) said Wednesday it raised $250 million in non-dilutive capital via a note purchase agreement with HealthCare Royalty.

The note is secured by the company's profit share payments from Pfizer under a license agreement for NGENLATM, a treatment for pediatric growth hormone deficiency.

The fresh capital provides OPKO the financial flexibility to advance its research and development activities and potentially to repurchase its commons shares and convertible notes, it said.

The note, which will mature in July 2044, bears interest at the 3-month Secured Overnight Financing Rate subject to a 4.0% per annum floor, plus 7.5% per annum, OPKO said.

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