NEW YORK (GenomeWeb) – GenMark Diagnostics said on Wednesday that it entered into a loan and security agreement on Feb. 1 through which Solar Capital is providing it with up to $65 million in a series of term loans.

In a filing with the US Securities and Exchange Commission, GenMark said that under the terms of the agreement, it had an option to borrow $50 million on Feb. 1 as part of a Tranche 1 Loan. It can borrow an additional $15 million no later than Dec. 31, 2019, should GenMark achieve a designated threshold amount of product revenues on a trailing six-month basis.

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