Biopharmaceutical company Amarin Corp Plc said it raised $100 million in non-equity financing that will help it form a sales force to launch its heart drug Vascepa.
Amarin shares, however, fell 22 percent after the bell as the company did not announce a sale or a partnership to market the drug, as some investors had expected.
"This transaction provides Amarin with non-dilutive capital that will ensure our ability to fully execute on the Vascepa product launch while continuing our strategic partnership discussions," CEO Joseph Zakrzewski said in a statement.
The company said it will hire 250 to 300 sales professional to launch Vascepa in the first quarter of 2013.
(Reporting By Vrinda Manocha in Bangalore; Editing by Don Sebastian)