Rathmann Extends $20M Credit Line to Hyseq as Cash Reserves Approach Empty | GenomeWeb

NEW YORK, Feb 8 – Hyseq said Wednesday its cash reserves dwindled to just $2.7 million at the end of 2000, prompting CEO George Rathmann to step in with a $20 million line of credit that could prevent the beleaguered company from going under.

“I have confidence in our financing ability and expect that Hyseq will be able to meet its cash requirements for the year,” Rathmann said in a statement.

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