Pharco raises EUR 1.5m in debt financing and signs a commercial partnership

Merodis, an independent corporate finance advisory firm, secured EUR 1.5m in debt financing for Pharco through a private placement. The financing should enable Pharco to finance the launch of several new products on top of the ongoing build out of its existing product porfolio. In parallel, an extensive commercial collaboration agreement was concluded with a leading pharmaceutical player. The latter agreement will commence and be communicated early 2015.

Incorporated in 2003, Pharco (www.pharco.be) develops and commercializes OTC/OTX products in the fields of phytotherapy and nutritherapy. These products are exclusively sold through pharmacies but promoted through the GP’s. In February 2013, Merodis advised Pharco on the sale of its star product Arterin (a leading cholesterol lowering product on the basis of Red Yeast Rice) to Omega Pharma for a consideration of EUR 10m+. Since then, Pharco has been focussing to rebuild its product portfolio and sales team. Pharco is listed on Euronext under the following ISIN code: BE0003835528.