Corium Secures $235 Million in Debt Financing

Proceeds to be Used to Commercialize AZSTARYS™ and Advance Pipeline

Corium, Inc. (Corium), a commercial-stage biopharmaceutical company leading the development and commercialization of novel central nervous system (CNS) therapies, today announces that it has closed on a $235 million term loan agreement with Hercules Capital, Inc. (NYSE: HTGC), a leader in specialty financing for life science and technology companies. Corium will receive an initial tranche of $100 million, and the remaining funds will be available in three additional tranches upon the achievement of certain pre-defined milestones.

"This financing will provide funds to support continued U.S. commercialization of AZSTARYS which is now available for the treatment of ADHD for patients 6 years of age and over that was approved by the FDA in March of this year, and the advancement of our pipeline, including our investigational treatment for Alzheimer's," says Perry J. Sternberg, President and CEO of Corium.  "I am extremely proud of Hercules' confidence in Corium and its belief in our growth potential."

"Hercules is pleased to enter into a strategic relationship with Corium at this pivotal time in its evolution" says Michael Dutra, Managing Director at Hercules Capital. "With an approved product now available that can help address unmet medical needs, other potentially promising drugs in development, and a successful contract development and manufacturing operation business, Corium is executing on its mission to provide clinicians with important new treatment options. This substantial capital commitment from Hercules aims to help Corium turn innovative technology into important commercial products and reflects our dedication to provide customized financing solutions to growth-stage life science companies."

J. Wood Capital Advisors LLC was the exclusive advisor to Corium in the financing transaction.

Commercialization of AZSTARYS

AZSTARYS (serdexmethylphenidate [SDX] and dexmethylphenidate [d-MPH]) (CII) was approved by the U.S. Food and Drug Administration (FDA) in March 2021 for the treatment of Attention Deficit and Hyperactivity Disorder (ADHD) in patients six years and older. AZSTARYS is the first and only product containing SDX, a prodrug of d-MPH. AZSTARYS, classified by the U.S. Drug Enforcement Administration as a Schedule II controlled substance, includes a combination of 70 percent extended-release prodrug of d-MPH SDX (Schedule IV) and 30 percent immediate-release d-MPH (Schedule II). Its novel formulation is designed to provide rapid and extended duration of symptom control. AZSTARYS is available in three once-daily strengths of SDX/d-MPH: 26.1/5.2mg, 39.2/7.8mg, and 52.3/10.4mg, providing dosing flexibility to meet the needs of each patient.