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Deltagen Secures $25M Loan to Build Out California Facility

NEW YORK, July 1 - Deltagen said today it has secured a loan for $25 million to help it build-out its Redwood City, Calif. research facility.


The loan, made with Silicon Valley Bank, comprises a one-year $5 million accounts-receivable loan and a $20 million term loan that may be draw on March 2003 and that will mature in March 2007, Deltagen said in a statement.


Deltagen had about $35 million in cash and cash equivalents as of March 31.


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