DLA Piper advises Axsome Therapeutics on US$570 million term loan and credit facility with Blackstone along with a simultaneous equity investment

DLA Piper provided counsel to Axsome Therapeutics, Inc. (Axsome), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, in entering into a US$570 million term loan and revolving credit facility with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance (Blackstone). Simultaneous with the credit facility, Blackstone consummated an equity investment in Axsome.

Concurrent with the new facility, Axsome has retired its previous term loan with Hercules Capital. The improved financial terms and expected use of the new facility are expected to result in a significant reduction in interest expense.

“Congratulations to our longtime client Axsome on this loan and credit facility. We were pleased to demonstrate our extensive transaction capabilities specific to the life sciences industry to bring this deal together,” said Emilio Ragosa, the DLA Piper partner who led the equity investment for the deal team.

In addition to Ragosa (Short Hills), partner Alan Rockwell (New York) led the credit facility for the deal team, which included associates Taryn Saum (New York), Minal Patel (Short Hills), and Tarquin McGurrin (Short Hills).

DLA Piper’s globally recognized life sciences team has spent decades helping entrepreneurs, companies, innovators, and investors turn their most promising and disruptive ideas into successful businesses. Drawing on diverse backgrounds in the legal, financial, and medical sectors and beyond, our team brings a distinctive blend of experience to develop client-focused solutions. We understand the unique challenges life science companies face in securing funding, licensing and safeguarding intellectual property, establishing partnerships, bringing new products to market, opening new paths to profitability, and protecting existing innovation. Our approach delivers both strategic and practical counsel to clients, ultimately leading to better human outcomes.