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Covington Represents OrbiMed on $400 Million Secured Debt Financing

Press Release January 19, 2023

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  • Covington Represents OrbiMed on $400 Million Secured Debt Financing

Covington Represents OrbiMed on $400 Million Secured Debt Financing

January 19, 2023

NEW YORK—Covington advised OrbiMed as the lead investor in a $400 million senior secured term loan facility provided to Caris Life Sciences, a molecular science and technology company developing and delivering solutions to the healthcare industry.

OrbiMed is a healthcare investment firm, with $18 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, utilizing a range of private equity funds, public equity funds, and royalty/credit funds.

The Covington team included Peter Schwartz, Jen Uren, and Melanie Cook (finance), Kurt Baca and Jeffrey Zink (tax), Michael Francese (ERISA), Scott Danzis, Anna Kraus, Elizabeth Brim, and Michael Maya (regulatory), Steven Mossey and Nick Rutigliano (IP), and Ron Hewitt (counsel to administrative agent).

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