NEW YORK (GenomeWeb) — Oxford Finance and Silicon Valley Bank today announced the closing of a $17 million credit facility with Sunnyvale, California-based Labcyte.  

The facility includes a $10 million senior secured term loan and a $7 million line of credit.

Labcyte said the proceeds of the loan would be used to support R&D and commercialization of its pipette-less Echo liquid handling systems.

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