On March 28, 2023, Montreal-based biopharmaceutical company, Milestone Pharmaceuticals Inc. (Nasdaq: MIST), specializing in cardiovascular medicines, declared a $125 million (170,348,750 CAD) strategic funding agreement with its existing shareholder, RTW Investments, LP and its affiliates. This funding, combined with Milestone's $64.6 million as of December 31, 2022, is projected to support its operations until mid-2025. This includes the anticipated approval and release of etripamil, an investigational calcium channel blocker designed to allow patients with paroxysmal supraventricular tachycardia (PSVT) to self-treat outside emergency departments. The deal comprises RTW's acquisition of $50 million in convertible notes and a $75 million non-dilutive royalty commitment. This combined amount aims to back the New Drug Application (NDA) for etripamil, which Milestone plans to present to the U.S. FDA in Q3 2023. Roderick Wong, MD from RTW Investments, expressed confidence in etripamil's potential after the successful Phase 3 RAPID study in October 2022. Furthermore, RTW acquired Milestone's senior secured convertible promissory notes for $50 million. These notes, convertible at $5.23 per share, will be available instantly upon closing and will mature on March 31, 2029. Additionally, pending FDA approval of etripamil, RTW has committed a $75 million royalty financing to Milestone based on etripamil's net sales in the U.S. For the financing transactions, Milestone was advised by Cowen, with Cooley as their legal counsel. RTW's legal advisor was Gibson Dunn.