Santander UK is helping pharmaceuticals manufacturer Ennogen to build on its high growth international strategy with a GBP £30m approved funding facility.
Established in 2011, Ennogen is a pharmaceutical and healthcare company focused on three key therapeutic areas: dermatology, respiratory and pain relief — predominantly targeting those with chronic conditions.
Facilitating international growth
The loan package provided by Santander will ensure that the company’s growth is adequately supported, allowing them to continue to invest in purchasing bolt-on pharmaceutical products in complementary therapeutic areas and target future acquisitions.
The £30m approved funding facility also has the capability to be extended to £50 million, subject to future approval, with Ennogen looking at international expansion opportunities.
Ennogen’s growth to date has been funded through cashflow and shareholder injections. The loan facility provided by Santander will provide the business a flexible approach to the company’s growth strategy.
Jason Tate, Chief Financial Officer at Ennogen said: “Santander quickly understood our business and came up with an innovative and flexible approach to meet our acquisition and product development needs. With offices and specialism in key locations around the world, Santander are best placed to support our international expansion strategy."
