DALLAS, TX / ACCESSWIRE / January 23, 2024 / SWK Holdings Corporation (Nasdaq:SWKH) ("SWK" or the "Company"), a life science-focused specialty finance company catering to small and mid-sized commercial-stage companies, today provided a corporate progress update as well as a summary of the achievements of its borrower partners.
"We concluded 2023 with a surge in deal activity as the 2023 investments SWK has made in the team and underwriting process paid dividends through an increased pipeline and four deal closings," stated Jody Staggs, President and CEO of SWK. "During the quarter, SWK closed approximately $60 million of financings with $55 million deployed. With these new capital deployments, SWK's portfolio of life science finance receivables grew to an all-time high as of December 31, 2023. We are well positioned to achieve sustained growth and deliver positive returns to our shareholders through our selective investment in innovative life science companies."
SWK Holdings Portfolio Updates
New Financings
SWK Holdings Borrower Partner Achievements
4Web, Inc.
4Web, Inc. 4Web is a privately held medical device company, based in Frisco, TX, which utilizes proprietary truss implant technology to develop and market spinal implants.
Biolase, Inc.
Biolase, Inc., traded on Nasdaq, ticker symbol BIOL, is a medical device company that develops, manufactures, and markets proprietary dental laser systems.
Biotricity, Inc.
Biotricity, Inc., traded on Nasdaq, ticker symbol BTCY, is a medical technology company focused on delivering remote biometric monitoring solutions to the medical and consumer markets.
Elutia
Elutia Inc., traded on Nasdaq, ticker symbol ELUT, is a biologics company with a portfolio of regenerative products aimed at improving compatibility between medical devices and the patients they treat.
Eton Pharmaceuticals, Inc.
Eton, traded on Nasdaq, ticker symbol ETON, is an innovative pharmaceutical company focused on developing and commercializing treatments for rare diseases.
Journey Medical Corporation
Journey, traded on Nasdaq, ticker symbol DERM, is a commercial-stage pharmaceutical company focused on commercializing FDA-approved, prescription dermatology products.
Nicoya Lifesciences Inc.
Nicoya is a Canadian life sciences tools company focused on innovative biosensor technology for the academic, biotechnology, and pharmaceutical sectors.
Shield Therapeutics plc
Shield, traded on the London Stock Exchange, symbol STX, is a commercial-stage specialty pharmaceutical company focused on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol).
About SWK Holdings Corporation
SWK Holdings Corporation is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK's unique financing structures provide flexible financing solutions at an attractive cost of capital to create long-term value for all SWK stakeholders. SWK's solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases typically ranging in size from $5.0 million to $25.0 million. SWK also owns Enteris BioPharma, a clinical development and manufacturing organization providing development services to pharmaceutical partners as well as innovative formulation solutions built around its proprietary oral drug delivery technologies, the Peptelligence® platform. Additional information on the life science finance market is available on the Company's website at www.swkhold.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect SWK's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" and elsewhere in SWK's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein, could affect the Company's future financial results and could cause actual results to differ materially from those expressed in such forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors. These are factors which, individually or in the aggregate, could cause the Company's actual results to differ materially from expected and historical results. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
For more information, please contact:
Tiberend Strategic Advisors, Inc.
Daniel Kontoh-Boateng (Investors)
dboateng@tiberend.com
Eric Reiss (Media)
ereiss@tiberend.com
SOURCE: SWK Holdings Corporation
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