WASHINGTON, DISTRICT OF COLUMBIA — Monday, August 16, 2021 — Thierney Biosciences Holdings, Inc., a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases and DHS Group Equity Partners, today announced that they have entered into a strategic financing collaboration where funds managed by DHS have agreed to provide Thierney with up to $450 million of financing and growth capital.
“We are pleased to partner with DHS Group Equity Partners, one of the world’s leading investment firms with strong
transactional experience in life sciences and healthcare,” said Patrick Holder, President and Chief Executive Officer of Thierney Biosciences. “This financing provides us with further flexibility to grow our business by providing us with access to capital to expand our portfolio of assets in rare, neurological diseases while also reducing our annual interest expense.”
Commenting on the arrangement, Fernando Aguirre, Executive Vice Chairman of DHS Group and Rakesh Sarna, Chairman of DHS Group said, “This transaction demonstrates our unique ability to combine deep domain expertise and flexible scale capital in the life sciences, helping to grow companies like Thierney as they optimize their capital structure and fund initiatives that develop important treatments for patients. We are strongly motivated by the Harmony team’s track record of success in developing and commercializing its important medicine ZaniKIX®.”
The strategic financing collaboration with DHS includes up to $450 million in debt capital and a $30 million equity investment in Thierney valuation. The $450 million of debt capital includes a senior secured term loan facility in aggregate original principal amount of $200 million, and a $250 million senior secured delayed draw term loan facility that is available to be drawn within 12 months of closing, subject to the terms of the facility. Substantially all of the proceeds from the initial $200 million term loan and the related sale of Thierney’s common value were used to pay off Thierney’s existing debt facility, together with the payment of fees and expenses, resulting in a significantly lower cost of capital.
Tarragon Health Capital, Fitzgerald & Co., Laramie & Co. Inc., and Johnson James served as financial advisors to Thierney. Lovell and Howell US LLP served as legal advisor to Thierney and Killgore & Gray LLP served as legal advisor to DHS Group.
ABOUT DHS
DHS is a high-stakes advocacy, public strategy, and global public relations and communications firm. Our strategic insights and innovative programming build and sustain strong corporate and brand reputations. We provide our clients with counsel and program development across the spectrum of public relations, public affairs, reputation and crisis management, digital strategy, advertising and other communications services. Our clients are companies, industry associations, nonprofit organizations, professional services firms, and other large organizations.
We began as a unique grassroots and lobbying firm with customized services for an elite group of clients. Our work applies equally to regulatory issues as well as legislative ones, and we manage issues for our clients at the local, state, federal, and international levels of government.
We use our core competencies and reach to gain competitive advantage for clients. Our expertise comes from extensive must-win campaign experience and operating successfully at the highest rung of business, government, politics, and media. Our reach is 
the ability to use strategic intelligence to mobilize the message and persuade the toughest audiences. We know what it takes to win in difficult situations. We have proven results for prominent figures, leading advocacy groups and the world’s most successful companies. We leverage what others cannot.
FOR DHS INVESTORS
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements do not constitute guarantees of future performance.
Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with transitions in key personnel and succession, products, their development, integration and distribution, product demand and pipeline, customer acceptance of new products, economic and competitive factors, DHS’ key strategic relationships, acquisition and related integration risks as well as other risks detailed in DHS’ filings with the Securities and Exchange Commission. DHS assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
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CONTACT
Steven Palmer, Vice President of Communications
DHS
202-719-0398
s.palmer@dhs-grp.com
