Law firm Stephenson Harwood LLP has advised Acacia Pharma Group plc in connection with a debt for equity swap, worth €10 million, with Cosmo Pharmaceuticals NV (Cosmo).

Acacia Pharma is a biopharmaceutical UK-based company, which specialises in the research and development of supportive care medicines to improve the care of patients undergoing serious medical treatments such as surgery, invasive procedures or chemotherapy. Cosmo Pharmaceuticals, which is based in Italy, is a pharmaceutical company specialising in therapies for gastro-intestinal diseases.

An existing €10 million loan facility from Cosmo has been terminated and replaced with a €10 million equity investment in Acacia Pharma. The transition from debt to equity strengthens Acacia Pharma’s financial structure, as it seeks to expand its offering and continue the commercialisation of its products.

The Stephenson Harwood team was led by partner Anthony Clare, with support from partner David Dowding, senior associates Alexa Whitehead and Hilary Barclay, and associate Gabriella McCoy.