11:38 AM EDT, 05/09/2024 (MT Newswires) -- Verona Pharma ( VRNA ) said Thursday it signed deals providing up to $650 million in financing from funds managed by Oaktree Capital Management and OMERS Life Sciences.

The financing consists of up to $400 million available in five separate tranches through a term loan facility and up to $250 million from the sale of a redeemable interest in future revenue related to ensifentrine, the company said.

Verona said the debt facility replaces the existing facility of up to $400 million with funds managed by Oxford Finance and Hercules Capital ( HTGC ) .

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