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Imprimis Pharmaceuticals Borrows $16 Million

San Diego drugmaker Imprimis Pharmaceuticals Inc. has entered into a $16 million loan agreement with SWK Funding and its partners, the company announced Thursday.

SWK Funding is a subsidiary of a health care focused investment firm called SWK Holdings Corporation.

Imprimis plans to use the funds to grow its eye medicines pipeline, and to retire its existing $13 million term loan with an affiliate of Life Science Alternative Funding LLC.

“This debt facility provides us with a non-dilutive source of capital at favorable terms and we believe adequate working capital to enable us to reach expected profitability in the near term,” said Imprimis’ CEO Mark Baum in a statement.

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